COSTA MESA, Calif., Nov. 12, 2007 (PRIME NEWSWIRE) -- Atlantic Industrial, Inc., a portfolio company of Sterling Partners, has acquired North Atlantic Scaffolding and NASCO Supply (collectively "NASCO"). Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction and acted as the exclusive financial advisor to NASCO.
Ken Spenard and Ron Bourgoin, CEO/CFO and president, respectively, for NASCO, will remain in their senior management roles. "Ken and Ron will be a great fit with their management philosophy and dedication to safety, a main focus within our organization. Utilizing the best practices of both companies will provide even more opportunities in the future," said Pete Vrettakos, executive chairman of the board for Atlantic Industrial.
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. John Dorey, senior managing director and Alexander Hoggan, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About North Atlantic Scaffolding and NASCO Supply
North Atlantic Scaffolding and NASCO Supply are full-service providers of scaffolding design, supervision and erection services to industrial clients across New England, New York, New Jersey and eastern Pennsylvania. The companies primarily serve the electric utility market as well as the pulp and paper industry, working with clients to design Occupational Safety and Health Administration-compliant custom scaffolding systems for their facilities and boilers. NASCO has a reputation for providing excellent service, which is backed by exceptional technical expertise and client service.
About Atlantic Industrial, Inc.
Headquartered in Columbia, Md., Atlantic Industrial (www.atlanticii.com) is comprised of two subsidiaries: Atlantic Scaffolding and Atlantic Plant Services. Atlantic Scaffolding, based in Houston, Texas, provides scaffolding, insulation and surface protection for industrial maintenance and construction projects in refineries, chemical plants and power plants. Atlantic Plant Services, based in Chicago, offers bundled services, including scaffolding, insulation, painting and select environmental services.
About Sterling Partners
Founded in 1983, Sterling Partners is a private equity firm that seeks controlling positions in middle-market private companies through equity investments ranging from $15 million to over $100 million. The fund targets companies that specialize in education, direct marketing, healthcare services, specialty distribution and manufacturing, financial and other business services. Sterling leverages nearly 25 years of investment and operating experience and provides comprehensive, industry-relevant resources and perspectives to assist its operating partners.