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Warren Equity Partners Announces Acquisition of Superior Industrial Maintenance Company

CONCORD, N.C.–(BUSINESS WIRE)–Warren Equity Partners, a lower middle market private equity fund, is
pleased to announce the acquisition of Superior Industrial Maintenance
Company (ÔÇ£SIMCOÔÇØ or the ÔÇ£CompanyÔÇØ). SIMCO, based in Concord, NC,
provides corrosion protection services for mission critical assets in
the infrastructure sector. SIMCO will serve as a platform investment in
Warren EquityÔÇÖs strategy to build a leading industrial coating services
company. Financial terms of the transaction were not disclosed.

ÔÇ£We are excited to partner with Hans Peterson and the rest of the SIMCO
team,ÔÇØ said Scott Bruckmann, Partner at Warren Equity. ÔÇ£Under Mr.
PetersonÔÇÖs leadership, SIMCO has expanded its service lines, built a
reputation for quality and reliability, delivered an excellent safety
record, and achieved significant growth. We are looking forward to
working with the full team to further expand SIMCOÔÇÖs offerings and
geographic reach.ÔÇØ

SIMCO provides specialty industrial services to critical assets in power
plants, chemical plants, commercial aviation facilities, military bases,
food and beverage processing facilities, and water treatment facilities.
SIMCOÔÇÖs primary asset protection services include industrial coatings
and lining applications, inspection and maintenance services, and lead
and asbestos abatement. The Company also offers proprietary bacteria and
chemical resistant coatings for the food and beverage market. The
CompanyÔÇÖs broad suite of services allows customers to fully migrate
non-core maintenance, repair, and overhaul services into SIMCOÔÇÖs
outsourced maintenance programs.

ÔÇ£We chose to partner with Warren Equity due to their experience with
infrastructure services companies and the strong fit with our culture,ÔÇØ
said Hans Peterson, CEO of SIMCO. ÔÇ£SIMCO has generated rapid growth over
the past several years, and we are excited to bring in a partner to help
us continue to build our platform.ÔÇØ

The transaction is Warren Equity PartnersÔÇÖ eleventh acquisition since
its formation in mid-2015.

About Warren Equity Partners

Warren Equity Partners is a private equity firm that invests in small
and middle market operating companies primarily in North America. The
firm invests in established companies where additional capital and
operating resources can accelerate growth, targeting companies in the
industrial, infrastructure, and business services sectors. Warren Equity
invests in the form of buyouts, growth equity, and recapitalizations.
For more information, please visit www.warrenequity.com.

About Superior Industrial Maintenance Company

Superior Industrial Maintenance Company, Inc. established in 1992 with
facilities in Concord, NC and Archdale, NC, is an industrial services
provider for a variety of end markets including power generation,
chemical, military and aviation fuel, food and beverage, and water. The
CompanyÔÇÖs service offering includes industrial coating and linings,
inspection and maintenance services, and lead/asbestos abatement. As a
testament to the CompanyÔÇÖs commitment to quality, SIMCO has over 15 NACE
inspectors & 2 SSPC Concrete Coatings Inspectors on staff. SIMCO is one
of the few nationwide coatings service providers that hold the following
certifications: SSPC-QP1, SSPC-QP2, SSPC-QP3, SSPC-QP8, & SSPC-QS1. For
more information, please visit http://gosuperior.net.

Contacts

Superior Industrial Maintenance Company
Jim Gregg, 704-743-2054
[email protected]