Headquartered in Houston, Texas, Apache 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. 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 also 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 more than 1,200 trained craftsmen who focus on providing customers with the safest, highest quality and best service in the industry.
The acquisition of Apache was made by MML’s fifth fund, and follows the firm’s successful prior energy and infrastructure related investments in the Gulf Coast region, including CoreLabs, XServ (now part of the Brock Group), and TNT Crane & Rigging. Stephens Inc. acted as financial advisor to MML on the transaction, with Winston & Strawn LLP acting as legal advisor.
Commenting on the acquisition, Mike Knigin, CEO of Apache, said:
“We recognize the opportunity ahead and it is significant – both for Apache Industrial Services and our industry. With MML as a financial partner, given their experience and proven track record in this sector, we have dramatically improved our already strong position in the market. This will allow us to continue to build upon our reputation as a company with a genuine commitment to performance and safety as well as to better position us to take advantage of the changes in the industry.”
Robert M. Davies, a Managing Partner of MML and newly appointed member to Apache’s Board of Directors added:
“We’re delighted to have completed the acquisition of Apache. Mike and his team have built a strong platform serving very attractive end markets. We were particularly impressed with Apache’s commitment to building a best-in-class safety culture throughout the company. We look forward to supporting management in their efforts to further build the business both organically and through acquisitions.”