PSC, HydroChem agree to combine companies

PSC, a portfolio company of Littlejohn & Co. LLC, and Aquilex Holdings LLC, owner of HydroChem and a portfolio company of Centerbridge Partners LP, have signed a purchase agreement whereby PSC will acquire all of the outstanding ownership interests of Aquilex, combining PSC and HydroChem to create a premier industrial cleaning and environmental services company in North America.

The combined company will be led by executives from both organizations: Gary Noto, HydroChem’s current CEO, will serve as the company’s vice chairman and a member of the board, and Brad Clark, CEO of PSC, will serve as its CEO and president and will also join the board.

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