M&A Deal Summary

ORIX Capital Partners Acquires Specialty Welding and Turnarounds

On January 31, 2020, private equity firm ORIX Capital Partners acquired engineering company Specialty Welding and Turnarounds from Hastings Equity Partners

Acquisition Highlights
  • This is ORIX Capital Partners’ 1st transaction in the Engineering sector.
  • This is ORIX Capital Partners’ 5th transaction in the United States.
  • This is ORIX Capital Partners’ 1st transaction in Louisiana.

M&A Deal Summary

Date 2020-01-31
Target Specialty Welding and Turnarounds
Sector Engineering
Buyer(s) ORIX Capital Partners
Sellers(s) Hastings Equity Partners
Deal Type Secondary Buyout

Target

Specialty Welding and Turnarounds

Gonzales, Louisiana, United States
Specialty Welding and Turnarounds is a provider of specialty welding and other highly technical services to the oil and gas refinery, biodiesel, petrochemical, and industrial markets. Specialty Welding and Turnarounds was founded in 2014 and is based in Gonzales, Louisiana.

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Buyer(S) 1

DESCRIPTION

ORIX Capital Partners is a wholly owned subsidiary of ORIX Corporation USA and is an affiliate of Mariner Investment Group LLC. ORIX Capital Partners seeks direct equity investments in established middle-market companies throughout North America. The Firm looks to commit $100 to $250 million of capital in profitable businesses with $20 to $50 million of EBITDA. Sectors of interest include business services, infrastructure services, and industrials. ORIX Capital Partners is based in New York City.


DEAL STATS #
Overall 5 of 7
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Louisiana) 1 of 1
Country (United States) 5 of 7
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Network Connex

Downers Grove, Illinois, United States

Network Connex is a provider of mission-critical network deployment solutions in fiber optics, data centers, wireless, and video networks. NTI Connect is based in West Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-12 RoadSafe Traffic Systems

Chicago, Illinois, United States

RoadSafe Traffic Systems is a provider in the U.S. of temporary traffic control devices on a rental basis, pavement marking and sign installation services. Roadsafe's customers consist of contractors, state and local departments of transportation and other agencies and railroad and utility companies engaged in highway and street construction and maintenance. Roadsafe also operates a studio equipment rental business engaged in the rental of aerial lift and other high-reach equipment for feature film, episodic television, commercials and video production in the greater Los Angeles area and in Albuquerque, New Mexico. RoadSafe Traffic Systems is based in Chicago, Illinois.

Sell -

Seller(S) 1

DESCRIPTION

Hastings Equity Partners is a private investment firm focused on small to mid-sized enterprises in the business and industrial services sector. Hastings looks to invest in and acquire North American companies with trailing EBITDA of $5 to $20 million. Hastings looks for control situations only and will consider funding buyouts (LBOs, MBOs), recapitalizations, and growth capital financings. Hastings Equity Partners was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 17 of 20
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 6 of 7
State (Louisiana) 1 of 1
Country (United States) 16 of 19
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Code Red Safety

Hammond, Indiana, United States

Code Red Safety is a provider of integrated safety solutions. The Company rents and sells industrial safety equipment, and provides specialty services for the petrochemical, refining, manufacturing, utility and construction end markets. Code Red’s comprehensive suite of safety products and services enhance worker safety and ensure compliance with government regulations. Code Red Safety was founded in 1995 and is based in Hammond, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-05 A&L Industrial Services

La Porte, Texas, United States

A&L Industrial Services is a provider of scaffolding, insulation, and industrial coating to refineries, petrochemical plants, and liquified natural gas facilities across the Gulf Coast. A&L Industrial Services was formed in 1985 and is based in Deer Park, Texas.

Sell -