Harris Williams & Co. Advises RepconStrickland Inc. in its Pending Sale to EMCOR Group Inc.

June 17, 2013

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that RepconStrickland Inc. (RepconStrickland), a premier provider of recurring turnaround and specialty services to the North American refinery, petrochemical, and other process industries, has entered into a definitive agreement to be acquired by strategic buyer EMCOR Group, Inc. (EMCOR; NYSE:EME) in an all cash transaction valued at approximately $455 million. Harris Williams & Co. is acting as the exclusive advisor to RepconStrickland, a portfolio company of ArcLight Capital Partners, LLC (ArcLight). The transaction is being led by Drew Spitzer, Tiff Armstrong, Matt White, Chris Burnham and Oliver Brooks from the firm’s Energy & Power (E&P) Group.

The pending sale of RepconStrickland represents another successful transaction for Harris Williams & Co. and adds to the Energy & Power Group’s leading experience in the infrastructure services sector, which includes five other completed transactions in the last 12 months and more than 20 transactions in total.

“RepconStrickland has built a premium reputation from having more than 35 years of delivering mission-critical turnaround and specialty maintenance services to refineries and petrochemical operators,” said Drew Spitzer, a managing director at Harris Williams & Co. “We are proud to represent RepconStrickland and ArcLight in this transaction.”

“RepconStrickland’s pending acquisition by EMCOR further highlights industrial-focused strategic buyers’ increased interest for companies with exposure to domestic refinery and petrochemical markets. This is a trend we have seen continue to develop over the last 18 months as companies seek to capitalize on the strong growth in North American oil and gas resources and a resurgent domestic petrochemical industry,” added Matt White, a director at Harris Williams & Co.

RepconStrickland’s leading market positions and well-known brands have been developed through a long and consistent track record of delivering specialized turnaround and maintenance services with superior project execution, a highly skilled workforce and a best-in-class safety record. RepconStrickland has built a prominent reputation for performing turnarounds and specialty services for the most critical units of refineries, petrochemical plants and other process facilities. The RepconStrickland platform is composed of five specialized divisions including Repcon, Inc., AltairStrickland Holdings, LLC, Turnaround Welding Services, LLC, Diamond Refractory Services, LLC and Tiger Tower Services, LLC.  Repcon, Inc. is a leading provider of hydrofluoric alky unit turnarounds, general turnarounds, specialty maintenance and industrial construction services. AltairStrickland is a leading provider of fluid catalytic cracking unit and coker unit turnarounds. Turnaround Welding Services provides premium welding services on all grades of steel, alloys and exotics. Diamond Refractory is a temperature/erosion materials specialist providing refractory services and liners for processing units and systems. Tiger Tower Services provides specialty mechanical services for process columns and weld overlays, nozzle installations and inspection services.

ArcLight is an energy-focused private equity investment firm, having invested more than $10 billion since its inception more than a decade ago.  Since its establishment in 2001, the firm has raised five funds with cumulative capital commitments totaling $10.1 billion.  ArcLight has successfully sourced, managed and realized investments through multiple energy industry cycles.  The firm’s investment team has extensive energy expertise, investing experience, industry relationships and specialized asset level value creation capabilities.  ArcLight is headquartered in Boston, MA, with offices in New York and Luxembourg.

EMCOR is a Fortune 500 worldwide leader in mechanical and electrical construction services, industrial and energy infrastructure and facilities services. 

The firm’s E&P Group has experience across a broad range of sectors, including oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services, power products and technology, engineering and construction and environmental services.  For more information on our energy and power experience, please contact Drew Spitzer or Tiff Armstrong at +1 (804) 648-0072.