Osceola Capital leads recapitalisation of industry services company, and completes add-on acquisition

Submitted 16/09/2020 - 10:02am

Osceola Capital, a lower middle-market private equity firm, has partnered with management to recapitalise Industry Services Company (ISC), a provider of industrial maintenance services. 

Concurrent with the transaction, ISC has completed the acquisition of Guy Nielson Company (GNC) and will combine operations with DG Skouse, a division of ISC. 

The consolidated company will be a national provider of industrial and refractory maintenance services, and represents the seventh platform investment for Osceola’s current fund.
 
Founded in 1964 and headquartered in Mobile, Alabama, Industry Services is a leading provider of industrial maintenance services, including refractory kiln maintenance, mechanical equipment and parts maintenance, and field tank services. ISC supports customers across 31 states in the South and Midwest, with branch locations in Alabama, South Carolina, Florida, Missouri, and Louisiana. ISC’s customer base spans a diversified group of end markets, including pulp & paper, chemicals, wastewater, power generation, incineration, cement, steel, precious metals, aluminium, and many others. Industry Services has been owned and operated by the Hunter family for decades and is led by CEO Shawn Hunter. Visit www.industrysci.com.
 
Founded in 1935 and headquartered in Pocatello, Idaho, Guy Nielson is a leading provider of industrial and refractory maintenance services. GNC supports customers across 13 states in the Pacific Northwest and Rocky Mountain regions, with branch locations in Idaho, Utah, Colorado, Oregon, and Washington. 
 
Industry Services CEO Shawn Hunter, says: “Our team is excited to partner with Osceola to execute on our long-term growth plan. We are at an exciting inflection point in our Company’s history, and we believe Osceola’s long track record of executing on aggressive organic and acquisition growth strategies alongside their management partners made them the ideal partner for us.”
 
Osceola was attracted to the industrial and refractory maintenance sector – the mission-critical nature of its services is supported by recurring, non-cyclical demand driven by safety, regulatory compliance, and operational efficiency standards. Ben Moe, Managing Partner at Osceola Capital, says: “We’re very excited to partner with Shawn and his team, and we look forward to further investing in Industry Services’ sales, marketing, field management and IT infrastructure so we can better service ISC’s customers and continue the company’s strong growth trajectory.”
 
Patrick Watkins, Principal at Osceola Capital, says: “Osceola and ISC plan to aggressively expand the platform, and we are thrilled to acquire GNC at the outset of our partnership. The combined capabilities and complementary geographic footprints of these two companies creates a powerful, national platform for growth and we look forward to expanding beyond our footprint and broadening service offerings through targeted acquisitions.”
 
DLA Piper provided legal counsel to Osceola Capital. Founders Advisors served as financial advisor and Hand Arendall served as legal counsel to Industry Services.

Tags Deals & Transactions Acquisitions