FMI Advises EQM on Sale to ASRC Industrial Services
FMI Capital Advisors is pleased to announce the sale of Environmental Quality Management (“EQM”), a portfolio company of Argentum Group to ASRC Industrial Services (“AIS”) a wholly-owned subsidiary of Arctic Slope Regional Corporation (“ASRC”). EQM is headquartered in Cincinnati, Ohio, and provides services throughout the United States, including the Midwest, Pacific Northwest and California. EQM is a full service environmental remediation company and will join AIS’s Environmental Engineering and Professional Services (“EEPS”) operating group. FMI Capital Advisors served as the exclusive financial advisor to EQM for this transaction.
Founded in 1990, EQM specializes in providing environmental remediation, emergency response, site restoration, environmental consulting, and emission measurement services. The company serves a variety of end markets, focusing in the public sector (EPA, US Army Corps of Engineers, Department of Defense), steel industry, and manufacturing.
“We’re excited to have the talented management team and workforce of Environmental Quality Management as part of ASRC Industrial,” said Brent Renfrew, President and CEO of AIS. “We welcome the expertise and capabilities the EQM team brings to the AIS family and look forward to their contribution in making AIS an employee-first, customer-focused industrial services provider.”
“We are extremely excited about the opportunities joining AIS brings to both our employees and our customers,” said Jack Greber, Founder of EQM. “After getting to know the AIS team and learning about ASRC’s commitment to the industrial services market, I knew AIS was the right long-term home for Environmental Quality Management.”
Headquartered in Concord, AIS is organized within three capabilities-based operating groups: Construction, Maintenance and Repair; Remediation and Response Services; and Environmental Engineering and Professional Services. AIS has approximately 4,500 employees and operations throughout the Continental United States. AIS subsidiaries include Petrochem, RSI Entech, Entech Advantage, DACA Specialty Services, D2 Industrial Services, US Coatings, Mavo Systems, F.D. Thomas, D. Zelinsky & Sons, Omega, Hudspeth & Associates, AIS Response Services, HRCS Engineering, USC Federal, Brad Cole Construction, Arctic Pipe Inspection, Niles Construction Services, National Environmental Group, Mansfield Industrial, and K2 Industrial Services. As a wholly-owned subsidiary of ASRC, AIS and its subsidiaries are considered minority business enterprises.
About FMI Capital Advisors
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm exclusively serving the Built Environment. With more than 700 completed M&A transactions, our industry focus enables us to maximize value for our clients through our deep market knowledge, strong technical expertise and unparalleled network of industry relationships.
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