COSTA MESA, Calif., July 29, 2008 (PRIME NEWSWIRE) -- Actividades de Construccion y Servicios (BMAD:ACS), through its CYMI subsidiary, has acquired a controlling position in Applied Control Technology Inc. and its subsidiaries Delta P and Industrial Process Services. Transaction terms were not disclosed.
RSM EquiCo Capital Markets LLC initiated the transaction, led the negotiations and acted as the lead financial advisor to Applied Control.
"The acquisition of Applied Control expands the presence of ACS into North America, specifically Texas and the Gulf Coast, for major infrastructure projects about to commence," said Bruce Manchester, senior managing director, RSM EquiCo Capital Markets. "ACS will be able to leverage Applied Control's localized industrial expertise, process knowledge, and product vendors in the Texas marketplace."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. The U.S.-based team included Manchester, Mike Parham, managing director, and Richard Rhyu and Adrian West, associate vice presidents. In addition, Paul Teuten, senior managing director, and Miki Dan, vice president, assisted in Europe.
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's services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. RSM EquiCo Capital Markets, which offers in-depth expertise in 13 distinct industry sectors, 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 affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are units of H&R Block Inc. (NYSE: HRB), the world's preeminent tax services provider.
RSM EquiCo Capital Markets' international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Dallas, Boston, New York and London. The firm is a member of FINRA and SIPC.
About Applied Control Technology
Applied Control Technology (www.appcontech.com) (along with its subsidiaries Delta P and Industrial Process Services) is a provider of design services, fabrication and installation of industrial systems, including mechanical, electrical process control and information technology. Founded in 1983, Applied Control's technical and engineering capabilities include electrical systems, instrumentation, custom panels, engineering/integration services, technical services, industrial information technology, complete industrial mechanical services, and mercury removal. Applied Control is based in Texarkana, Texas.
About Actividades de Construccion y Servicios, S.A.
Actividades de Construccion y Servicios (www.grupoacs.com), through its subsidiaries, engages in the construction of civil works and residential and non-residential buildings worldwide. It primarily constructs motorways and roads, railways, hydraulic works, marine projects, waste treatment plants, cultural and sports buildings, health centers and hospitals, industrial and office administrative buildings, and residential buildings. It also is involved in the development of applied engineering services and installation and maintenance of industrial infrastructures in the energy, communications, and control systems sectors. The company also provides environmental services, the outsourcing of integral building maintenance services, and transport infrastructure development services. ACS is headquartered in Madrid, Spain and has annual revenues in excess of $33 billion.