Headquartered in Houston, TX, UPS provides maintenance, repair and overhaul services for industrial equipment in the refining, petrochemical, midstream and power end markets. Within these end markets, the Company services mission critical equipment such as industrial compressors, heat exchangers, turbines, pumps, towers and valves.
Commenting on the investment, Bradley T. Jones, Co-CEO of UPS, said:
“During the next few years, UPS intends to pursue significant growth opportunities in our industry. We are very pleased to have found a partner such as MML Capital that brings both a thoughtful approach towards pursuing such opportunities and prior domain experience investing in companies that serve our end markets.”
Mark A. Evers, an MML Partner stated:
“MML is delighted to partner with the UPS team as they pursue significant growth opportunities over the next few years both organically and via selective acquisitions.”
MML’s investment was made from its sixth fund. The GulfStar Group, Winston & Strawn LLP, FTI Consulting and Investor Group Services served as MML’s investment banking, legal, financial and business diligence advisors, respectively, in connection with its investment. Andrews Kurth LLP represented UPS in the transaction.