{"id":653197,"date":"2013-04-18T13:32:58","date_gmt":"2013-04-18T17:32:58","guid":{"rendered":"http:\/\/www.pehub.com\/?p=197121"},"modified":"2013-04-18T13:32:58","modified_gmt":"2013-04-18T17:32:58","slug":"azz-buys-aquilex-sro-for-250-mln","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/653197","title":{"rendered":"AZZ Buys Aquilex SRO for $250 Mln"},"content":{"rendered":"

AZZ Inc.<\/strong> has acquired Aquilex Specialty Repair & Overhaul<\/strong>, a unit of Aquilex Holding<\/strong>, for $250 million. The transaction closed April 1. Aquilex SRO is majority owned by Centerbridge Partners<\/strong>. Norcross, Ga.-based Aquilex SRO provides maintenance, repair, and overhaul services to the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries. Houlihan Lokey<\/strong> advised Aquilex SRO.<\/p>\n

PRESS RELEASE<\/p>\n

Houlihan Lokey is pleased to announce the sale of Aquilex Specialty Repair & Overhaul (Aquilex SRO), a subsidiary of Aquilex Holdings LLC, to AZZ Inc. (NYSE: AZZ) for a purchase price of $250 million. Houlihan Lokey served as the exclusive financial advisor to Aquilex SRO and assisted in structuring and negotiating the transaction. The transaction closed on April 1, 2013.<\/p>\n

Headquartered in Norcross, Georgia, Aquilex SRO is majority owned\u00a0by Centerbridge Partners, L.P. The company is a leading global provider of critical recurring and commonly nondiscretionary maintenance, repair, and overhaul services to a diverse base of customers in the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries. Aquilex SRO’s proprietary processes and highly engineered technology solutions provide unique life extension options for critical plant infrastructure and utilize specialized automated equipment and craft labor.
\nAZZ Inc. is a specialty electrical equipment manufacturer serving the global markets of industrial, power generation, transmission, and distributions, as well as a leading provider of hot dip galvanizing services to the North American steel fabrication market. AZZ, Inc. is headquartered in Fort Worth, Texas and currently has a market capitalization of over $1 billion.
\nThis represents another successful transaction on behalf of Aquilex and their stakeholders. In early 2012, Houlihan Lokey advised a group of senior noteholders, led by Centerbridge Partners, L.P., in designing and executing an out-of-court financial restructuring which materially reduced the company’s debt and added new growth\u00a0capital to the business by way of a rights offering. Through that transaction, Centerbridge became the controlling shareholder of the company.
\nHoulihan Lokey is an international investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and Asia. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked globally as the No. 1 restructuring advisor, the No. 1 M&A fairness opinion advisor over the past 10 years, and the No. 1 M&A advisor for U.S. transactions under $3 billion, according to Thomson Reuters.
\nIf you would like more information about Houlihan Lokey, or if you have any questions regarding our role in the sale of Aquilex SRO, please contact one of the transaction team members listed.<\/p>\n

The post AZZ Buys Aquilex SRO for $250 Mln<\/a> appeared first on peHUB<\/a>.<\/p>\n

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AZZ Inc. has acquired Aquilex Specialty Repair & Overhaul, a unit of Aquilex Holding, for $250 million. The transaction closed April 1. Aquilex SRO is majority owned by Centerbridge Partners. Norcross, Ga.-based Aquilex SRO provides maintenance, repair, and overhaul services to the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries. Houlihan […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-653197","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/653197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=653197"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/653197\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=653197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=653197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=653197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}