American Industrial Partners' Brock Group Completes Acquisition of Chinook Scaffold Systems, LTD

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Jan 09, 2023, 17:00 ET

NEW YORK and HOUSTON, Jan. 9, 2023 /PRNewswire/ -- American Industrial Partners ("AIP") and the Brock Group ("Brock") announced the acquisition of Chinook Scaffold Systems, LTD ("Chinook"), headquartered in Nanaimo, British Columbia, Canada

Chinook, with a high quality, skilled 400 strong workforce, is a leading provider of scaffolding and insulation systems serving oil & gas, smelters, mining, dams and pulp & paper customers throughout Western Canada including British Columbia, Alberta and Saskatchewan.

Brock (acquired by AIP in 2017) provides soft-craft services of scaffolding, insulation, paint and asbestos abatement to industrial, oil and gas, power generation, petrochemical and nuclear markets across the United States and Canada. The business has continued to grow its footprint by adding additional market segments, including in the food & beverage, pharmaceutical, and municipality industries. In 2018, Brock acquired Advanced Thermal Corporation to strengthen its insulating business by adding removeable blanket systems as a core product offering. In 2022, the Brock Group added the Schultz, Brinderson and AllSafe brands to expand its geographical and mechanical services capacity with long-term relationships with blue chip customers along the US west coast. The acquisition of Chinook further adds to our market expansion into Western Canada and allows us to expand product and service offerings. The combined Brock Group companies will provide customers a business model with the scale to deliver superior value.

Randall Swift, Partner at AIP, said, "The combined entities create a powerful business that will have the scale, expertise, and a strong balance sheet with which to serve a diverse customer portfolio."

Terms of the transaction were not disclosed. Torys LLP acted as legal advisor to Brock. Capital West Partners acted as financial advisors for Chinook.

About the Brock Group:

The Brock Group is a leading provider of multi-craft specialty services to businesses operating in the Industrial Sector. With headquarters located in Houston, Texas, the company services a diverse customer base from the petrochemical, refining, power generation, offshore, heavy manufacturing, pipelines and transmission, nuclear, pulp and paper, LNG, and pharmaceutical businesses who operate throughout the United States and Canada. With approximately $1.3 billion in revenue and 13,000+ employees, the Company supports routine maintenance, turnarounds and capital projects by providing soft craft services including scaffolding / work access, insulation, coatings/linings, and asbestos abatement. In addition, the Brock Group brings mechanical service expertise and execution to the western United States as well as additional associated services required by our customers. Brock has been in this business for 75+ years, which has fostered long standing relationships with a broad array of customers including some of the largest Fortune 500 companies that support critical infrastructure throughout North America. For more information on Brock, visit www.brockgroup.com.

About American Industrial Partners:

American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing for over two decades. To date, American Industrial Partners has completed more than 100 acquisition transactions, and currently has approximately $10 billion of assets under management on behalf of leading pension, endowment, and financial institutions. For more information on AIP, visit www.americanindustrial.com.

SOURCE The Brock Group