Specialty Welding and Turnarounds LLC (SWAT), a leading provider of highly technical maintenance services to the chemical, refinery, renewable energy and industrial markets, announced the acquisition of Midwest Cooling Tower Services (MWCTS or Midwest) from Dorilton Capital.
Headquartered in Krotz Springs, Louisiana, and with operations across the United States, Midwest is a leading provider of critical cooling tower solutions, including inspection, maintenance and repair, specialty distribution and rental .
“Midwest has been a leading provider of cooling tower services for decades, with a solid reputation for excellent inspection and maintenance performance. In addition to its critical component inventory and cooling tower rental fleet, the company stands out as a key player in the industry, ”said Marcus Deal, CEO of SWAT. “With this acquisition, we will now be able to provide high quality cooling tower services at the heart of our offering. We are delighted to extend SWAT’s technical capabilities to this attractive market by supporting Midwest’s exceptional management and operations team.
On a combined basis, SWAT will employ over 2,100 people. The combined entity will have a long-standing blue chip customer base in the United States.
“As we searched for a new partner for our next chapter, we felt SWAT was strongly aligned with our values, including our shared focus on safety, customer service and employee engagement,” said Danny Wiltz , president of Midwest.
“We are very proud of what Midwest has become. The company was started by our father almost 35 years ago, so it was important for us to find a partner who is focused on our future and also appreciates our history, ”added Paul Wiltz, vice president of Midwest .
Upon closing of the transaction, Danny Wiltz and Paul Wiltz will continue to lead the business under the SWAT platform.
“Midwest integrates seamlessly with SWAT’s broader offering of existing industrial maintenance service lines, delivered by an exceptional workforce of highly skilled and experienced specialists,” said Craig Kahler, Managing Director of ORIX Capital Partners, including the managed fund acquired SWAT in January 2020 in partnership with Hastings Equity Partners and the SWAT management team. “This acquisition supports our strategic growth plan to expand industrial technical maintenance capabilities across a diverse customer base, while helping leading industrial companies maintain safe, compliant and efficient facilities. “
Kirkland & Ellis LLP acted as legal counsel to ORIX Capital Partners and SWAT in connection with this transaction. Jones Day served as legal counsel and Stifel served as financial advisor to Midwest. Financial terms of the transaction were not disclosed.
Read the article online at: https://www.hydrocarbonengineering.com/refining/24122021/specialty-welding-and-turnarounds-acquires-midwest-cooling-tower-services/