DBM Global completed the merger with GrayWolf Industrial for $135m.

DBM Global, operating subsidiary of HC2 Holdings, completed the merger with GrayWolf Industrial, premier specialty maintenance, repair and installation services provider, for $135m. “Through this acquisition, which is expected to be accretive to DBM Global’s annual Adjusted EBITDA by just over $20m and to provide what we believe will be stable free cash flow, we will diversify our revenue and service offering beyond fabrication and erecting into heavy maintenance and repair in the petrochemical, pulp & paper, oil refinery and power markets. We look forward to welcoming the GrayWolf team to the DBM Global family and to offering a more extensive value proposition to our existing customers, while also cross-selling to GrayWolf's impressive list of blue-chip customers.” Rustin Roach, DBM Global President, and Chief Executive Officer.