Congruent Investment Partners Announces Investment in American Industrial Services
DALLAS–(BUSINESS WIRE)–Congruent Investment Partners (“Congruent”), a Dallas-based private equity firm, announces an equity investment in American Industrial Services (“AIS”), parent company of Southern Welding, LLC, Elite Refractory, LLC, and Trailers by Southern Welding, LLC (collectively, the “Company”). Founded in 2007, the Company, based in Waxahachie, Texas, provides maintenance and repair services to major industrial plants across the United States, focusing on facilities in the aggregates, pulp & paper, and power industries. AIS has over 90 unique customers across the country.
The Company’s founder, Shane Boston, stated, “I’m proud of the business that our team has built over the past 16 years, and we are excited to partner with Congruent during this unique inflection point in our history. My motivation for this transaction was to bring on a partner who brought strengths where I have weaknesses so that we can better serve our customers and become a leader in the industry. Our core team will remain in place and continue to lead the Company operationally, while Congruent will supplement other areas of the business, allowing us to better serve the industries in which we operate.”
“With its dominant market position in the southern United States, exceptional management team and significant opportunities for growth outside its core markets, AIS aligns well with our focus on investing alongside strategically sound, founder-led, industrial services businesses,” said Travis Baldwin, Managing Member of Congruent Investment Partners. “We are thrilled to be partnering with Shane and the entire AIS team to strengthen the business and continue the Company’s impressive upward trajectory.”
The partnership between Congruent and AIS will build upon the strong foundation built by Mr. Boston and the AIS team and support growth across all areas of the business.
About the Company
Founded in 2007 and based in Waxahachie, Texas, the Company provides fabrication, mechanical, and refractory services to major industrial plants in the aggregates, pulp & paper, and power industries. It also manufactures and sells custom made commercial pneumatic and dry bulk trailers, along with various types of industrial storage tanks. The existing management team and key team members are all remaining with the business going-forward.
About Congruent Investment Partners
Founded in 2009, Congruent Investment Partners, LLC is a North American private investment firm based in Dallas, Texas, primarily focused on investing in lower middle market companies. Congruent manages capital in long-term private funds and through separate accounts, with an investor base comprising foundations, endowments, pension funds, insurance companies, and high net worth individuals. For more information, please visit www.congruentinv.com.
Contacts
Matt Killebrew
media@congruentinv.com