December 19, 2019, 02:59 PM Eastern Standard Time
CONCORD, N.C.–(BUSINESS WIRE)–Superior Industrial Maintenance, a provider of corrosion protection services for mission-critical assets in the infrastructure sector, announced its acquisition of Maintenance Insulation Company (“MICO”).
MICO, based in Lancaster, South Carolina, is a provider of corrosion protection and specialty industrial services for the chemical, pulp and paper, and industrial industries throughout the Mid-Atlantic and Southeast. MICO’s service offerings include insulation, asbestos and lead abatement, painting, blasting, and scaffolding. The Company’s COO, Robbie Reed, will remain with Superior Industrial Maintenance post-close.
“We are eager to continue growing Superior Industrial Maintenance’s portfolio of mission-critical industrial services to better serve our customers,” said Hans Peterson, CEO of Superior Industrial Maintenance. “The MICO team is a strong fit with Superior Industrial Maintenance culture, and we anticipate significant growth opportunities together.”
“We believe the addition of the MICO team and broad suite of services will greatly benefit the Superior Industrial Maintenance platform,” said Scott Bruckmann, Partner at Warren Equity Partners. “This acquisition is another step towards our goal of building Superior Industrial Maintenance into the leading specialty industrial services provider in the Southeast.”
MICO is Superior Industrial Maintenance’s second acquisition since Warren Equity Partners acquired a majority interest in May 2018.
Moore & Van Allen PLLC acted as legal advisor to Superior Industrial Maintenance.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in small and middle-market operating companies primarily in North America. The firm invests in established companies where additional capital and operating resources can accelerate growth, targeting companies in the industrial, infrastructure, and business services sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.
About Superior Industrial Maintenance Company
Superior Industrial Maintenance was established in 1992 with facilities in Concord, NC and Archdale, NC. It is an industrial services provider for a variety of end markets including power generation, chemical, military and aviation fuel, food and beverage, and water. Service offerings include industrial coating and linings, inspection and maintenance services, and lead/asbestos abatement. Superior Industrial Maintenance is focused on safety, quality, and a commitment to excellence in order to build and protect its customers’ critical operating assets.