MML Capital Partners (“MML”) has exited its investment in Apache Industrial Services (“Apache”) through a sale of the company to Quantum Capital.
Founded in 1996 and headquartered in Houston, Texas, Apache provides a comprehensive suite of services including scaffolding, coatings and linings, refractory, fireproofing and insulation to critical infrastructure across the petrochemical, chemical and other process and general industrial end markets.
MML led the acquisition of Apache in 2013 alongside the company’s management team and two of MML’s limited partners, including GoldPoint Partners. The sale of Apache follows a long history of successful investments for MML focused on energy and infrastructure in the Gulf Coast region, including CoreLabs, XServ (now part of the Brock Group) and TNT Crane & Rigging, in addition to its recent investment in Universal Plant Services.
Commenting on the transaction, Robert M. Davies, Managing Partner at MML said, “Apache has experienced tremendous growth over the past few years thanks to the efforts of a very talented management team led by Mike Knigin. The company has differentiated itself by creating a culture of pride among its employees and a unique focus on addressing customer needs. We’re delighted to have had the opportunity to partner with Apache and wish the entire team continued success.”
Apache CEO Michael Knigin added, “MML made an investment in Apache at an important inflection point in the evolution of our organization's culture and market footprint. Their collaborative partnership during this transformative period for Apache has made a permanent and lasting impact on the architecture of our business and the industry.”
Harris Williams & Co.’s Energy, Power & Infrastructure Group, led by Drew Spitzer, Matt White, Tiff Armstrong, Chris Burnham and Adam Daigle, served as exclusive financial advisor to Apache. Winston & Strawn LLP, led by Chris Ferazzi, Dean Burau, Steve Flores, Alex Niebruegge, Michael Fillingame, and Brad Ratliff, served as the company’s legal counsel.
MML Capital Partners (“MML”) backed IQARUS (www.iqarus.com) has acquired C-CHEC, a leading occupational hygiene consultancy. MML invested into IQARUS in October 2015 as a platform from which to develop an international player in healthcare solutions for remote environments.
C-CHEC provides a range of services to detect and control hygiene risks in the workplace. The C-CHEC acquisition enhances IQARUS’s medical and occupational health capability in what is an extremely important area for its clients in ensuring the welfare of employees.
Tim Mitchell, CEO of IQARUS comments: ’This strategic acquisition will be the first in a series that will transform the provision of healthcare solutions for challenging environments. C-CHEC are market leaders and highly respected within the global oil and gas industry and other sectors; we are very proud to now be offering this expertise. We see significant benefits to clients in delivering hygiene consultancy in tandem with medical and health provision as part of our holistic approach to managing the health and wellbeing of our clients’ workforces.’’
Luke Jones, MML, comments: “The services provided by C-CHEC are extremely complimentary to IQARUS’s current offering and strategy. We look forward to continuing to support Tim and his team in executing their ambitious growth plans.”