ORIX to acquire a majority stake in Specialty Welding and Turnarounds.

Private equity firm ORIX agreed to acquire a majority stake in Specialty Welding and Turnarounds, a provider of specialty welding and other highly technical turnaround services to the oil and gas refinery, petrochemical and industrial markets. Financial terms were not disclosed. "SWAT’s focus on specialty welding and turnaround services with the high level of craftsmanship of its people, combined with a strong company culture, has driven an exceptional performance record in what has become a best-in-class provider. We are excited to partner with the SWAT management team and Hastings Equity Partners in this next chapter of growth as the company continues to execute on strategic and operational objectives. In addition to being a compelling opportunity, SWAT is highly complementary to OCP’s investment objectives focusing on the industrial and business services sectors," Craig Kahler, ORIX Managing Director.