MML Capital Partners (“MML”) is pleased to announce that Apache Industrial Services, Inc. (“Apache”) has completed two acquisitions: Southern Insulation Inc. (“Southern”) and Stark Sandblasting and Painting Co. (“Stark”). Terms of the acquisitions were not disclosed.
Based in Sulfur, Louisiana, Southern provides insulation, painting, coatings and scaffolding to the petrochemical, refinery and midstream markets.
Founded over 30 years ago by Stelio Flamos and based in Canton, Ohio, Stark is a coatings and linings business serving refineries and petrochemical customers in the Midwest.
Commenting on the transactions, Mike Knigin, CEO of Apache, said: “We are extremely excited to welcome the Stark and Southern organizations to the Apache family. Both businesses are built on a solid foundation of engaged leadership, committed craftsmen and a long track record of success. Both companies share Apache’s values, as well as its commitment to safety and its people.”
Robert M. Davies, a Managing Partner of MML and Director of Apache added: “Mike and his team did a tremendous job in identifying and executing these two acquisitions, both of which have the potential to add significant value to Apache. We’d like to thank our co-investors, GoldPoint Partners and Cigna Investment Management for continuing to support Apache’s growth strategy. We’re also very thankful for the financing provided by Apache’s senior lender, PNC Bank, as well as GE Capital which joined as part of these acquisitions.”
About Apache Industrial Services
Apache Industrial Services (www.apacheip.com), a portfolio company of MML Capital Partners, is a recognized leader in providing a range of soft-craft services, including refractory, fireproofing, scaffolding, coatings & linings, abatement, and insulation to refining, chemical, power and industrial facilities. Headquartered in Houston, Texas, Apache serves a diverse customer base throughout the US with a concentration along the Gulf Coast from its facilities in Houston and Corpus Christi, Texas, as well as Baton Rouge and Sulfur, Louisiana. Apache is one of the largest passive fire protection applicators in the United States, and is the largest intumescent epoxy applicator in the Western Hemisphere. Apache employs approximately 2,000 trained craftsmen who focus on providing customers with the safest, highest quality and best service in the industry.