A New York investment firm has acquired a majority interest in Gonzales-based Specialty Welding and Turnarounds, or SWAT.
SWAT President Johnny Holifield says the company’s partnership with ORIX Capital Partners, or OCP, will help it expand across the U.S. and add to the breadth of its services.
Holifield and SWAT Vice President Jimmy Quick founded the specialty welding company that provides technical turnaround services to the oil and gas refinery, petrochemical and industrial markets in 2014.
The company has master service agreements with more than 50 U.S. facilities— including some of the world’s largest oil refineries—and maintains offices in Louisiana, Texas and California, a coverage area spanning more than 14 states, as well as a nationwide craft labor database of more 4,000.
Prior to the ORIX Capital Partners acquisition, SWAT was majority-owned by Hastings, a private equity firm focused on investing in middle-market industrial services and equipment companies. Hastings and the SWAT management team will continue to be shareholders in the company in partnership with OCP. Read the announcement.
This story originally ran in 10/12 Industry Report. To keep up with regional industry news, subscribe to the free 10/12 Weekly e-newsletter.
