Safway to Merge with Brand Energy
Safway Group (Waukesha, Wisconsin), a supplier of access equipment such as scaffolding and aerial access, plans to merge with Brand Energy & Infrastructure Services (Kennesaw, Georgia), which provides goods and services including access, corrosion management, coatings, insulation and formwork, according to the companies.
Financial terms of the deal, announced Monday (March 20), were not disclosed.
Brand is a portfolio company of Clayton, Dubilier & Rice, and CD&R will be the controlling shareholder of the newly merged company, according to a jointly issued news release. Odyssey Investment Partners, which acquired Safway in 2009, will exit its investment.
The deal is expected to close in the third quarter of 2017, the companies say, and the new entity is expected to have annual sales of approximately $5 billion.
About the Companies
Safway, which operates in North America with worldwide distribution channels, includes brands like All-American Scaffold, CL Coatings, Redi Solutions and Swing Staging. The company, formed in 1936, serves the general construction, elevator, infrastructure, manufacturing, marine, petrochemical, power, and oil and gas industries.
Brand operates on six continents, serving the energy, industrial and infrastructure industries, providing services including abrasive blasting, coating, cathodic protection, corrosion-under-insulation management, insulation and access. Its brands include Matcor Inc. and Gregg Industrial Insulators.
“As a single enterprise, our customers will benefit from a broader range of solutions and greater depth, as well as expertise to provide exceptional service to industrial, commercial and infrastructure customers,” said Paul Wood, Brand chairman and CEO.
“We believe our customers will derive significant value through expanded services and expertise, increased geographic coverage and greater scale that will enhance our flexibility and responsiveness,” added Bill Hayes, president and CEO of Safway Group.