Houston-based Apache Industrial Services has acquired Southern Insulation Inc., which has operated in the Sulphur/Lake Charles, Louisiana, area for over 30 years with a focus on insulation. Southern Insulation has a longstanding maintenance relationship in its market and will assist Apache with bolstering its multicraft capabilities. Terms of the deal were not disclosed.
Apache is a soft craft services provider with services that include fireproofing, scaffolding, refractory, coatings and linings, insulation and abatement, and safety services. Industries served include petrochemical, refining, tank storage, process plant, pipeline, power, steel fabrication, water/wastewater, oil drilling and production, pipe fabrication, marine and specialty commercial.
Through this strategic acquisition, Apache will further expand its insulation service capabilities and geographic footprint in Southwest Louisiana.
“We are extremely excited to welcome Southern Insulation to the Apache family,” said Apache CEO Mike Knigin. “Its business is built on a solid foundation of engaged leadership, committed craftsmen and a long track record of success. Southern Insulation shares Apache’s values, as well as its commitment to safety and its people.
“Apache’s expansion is as deliberate as it is purposeful. The company carefully identifies opportunities not simply for increase in scale but for quality, a shared purpose and a distinct commitment to safety. The acquisition of Southern Insulation fits this mandate.”
IVS Investment Banking served as an adviser to Southern Insulation and its shareholders during the transaction.
“I’ve known Thomas Brinsko and the BIC Alliance team for a long while. When we first considered selling the business, we got a great referral from another business owner who had previously engaged BIC Alliance’s M&A arm, IVS Investment Banking,” said Paige Clayton, principal, Southern Insulation. “And it made a lot of sense because these guys are really connected in the industry.
“We are very pleased with how the process worked. It was professional, confidential and thorough. Best of all, I really felt like IVS had our best interests at heart. If you are considering raising some capital or selling your company, I highly recommend working with IVS Investment Banking.
“Joining Apache allows our craftsmen to continue to thrive in a safety-focused, value-driven organization that is set up to provide the highest level of service and attention to our customers. We are thrilled to have added capabilities and to be part of a company that is doing it right in every way.”
IVS Investment Banking delivers premium value to business owners by providing merger and acquisition, recapitalization, management-led buyout, private placement and consulting services. IVS works with owners and management teams to sell or acquire manufacturing, distribution and service-oriented businesses associated with the energy sector.
For more information on Apache Industrial Services, visit www.apacheip.com or call (713) 450-9307.
For more information on Southern Insulation, visit www.teamsouthern.net or call (337) 625-6771.
If you are interested in selling, investing in or buying companies in the energy, industrial, maritime and/or environmental services sectors, contact Thomas Brinsko at (281) 538-9996, email tbrinsko@bicalliance.com or visit www.bicalliance.com.
