Ridgmont Equity Partners’ prtfolio company APE Companies (APE) has acquired Corrosion Specialties, Inc, a full service distributor of corrosion control equipment and consumable products to the transportation, manufacturing, and energy industries.
CSI will continue to operate a distribution centre in its Duluth, Georgia, headquarters and a distribution centre in Jacksonville, Florida. Financial terms of the transaction were not disclosed.
“CSI has been a well-respected name in the abrasives business for fifty years and we’re very excited to welcome the team to our family of companies,” says Kevin Willis, CEO of APE Companies. “This addition to our partnership will further propel the growth of APE through geographic market expansion into the Southeast, end user diversification and a larger product and service offering for CSI’s customers.”
“Becoming part of the APE platform is transformational for our business,” adds Matt and Andy Steinmann, owners of Corrosion Specialties, in a joint statement. “We now have access to more abrasive products and rental equipment as well as new access to safety related products and equipment to better serve our existing customers and attract new business. We have known the APE management team for many years and share the same vision on how to grow and adapt to changing demands in the market.”