Announced
Financials
Sources
Tags
Majority
Domestic
Private
Specialty Contracting
Acquisition
Friendly
Pending
Private Equity
Single Bidder
cooling tower solutions
United States
Synopsis
ORIX-backed Specialty Welding and Turnarounds, a provider of highly technical maintenance services to the chemical, refinery, renewable, and industrial markets, agreed to acquire Midwest Cooling Tower Services, a provider of mission-critical cooling tower solutions, from Dorilton Capital, a private investment firm. Financial terms were not disclosed. "Midwest has been a leading provider of cooling tower services for decades with a strong reputation for excellent inspection and maintenance execution. Along with its critical components inventory and cooling towers rental fleet, the company is well-differentiated as a key player in the industry. With this acquisition, we will now be able to provide high-quality cooling tower services as a core part of our offering. We are excited to extend SWAT’s technical capabilities into this attractive market by supporting Midwest’s exceptional management and operations team," Marcus Deal, SWAT CEO.
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