ORIX Capital Partners, LLC, a private-equity firm, purchased the majority interest of Specialty Welding and Turnarounds, LLC (SWAT) from private-equity firm, Hastings Equity Partners (Hastings). The acquisition of SWAT by ORIX Capital Partners, LLC was brokered by global investment bank, Harris Williams (Yahoo Finance). The financing of the acquisition was provided by Cadence Bank (BicMagazine.com).
SWAT, known for its culture of putting safety and client satisfaction first, is based in Gonzales, LA where it was founded in 2014. In 2017, Hastings acquired SWAT by purchasing its majority interest. In the three years Hastings managed it, SWAT tripled in size.
Ted Patton, Managing Director of Hastings said, “SWAT is an incredible success story that we’re fortunate to have been a part of. The business has tripled in size in our three years of ownership while maintaining its core focus on safety, project management, execution and customer satisfaction. We are greatly appreciative of the management team and employees at SWAT and all they have accomplished” (PRNewswire).
Johnny Holifield, Co-Founder, and CEO of SWAT said, “I am proud of what we built together at SWAT during our partnership with Hastings. I am grateful for our management team and our employees, without them, the growth we achieved would not have been possible” (Streetinsider.com)
With master service agreements in 50 locations within 14 states, over 4,000 craftsmen to choose from, and some of the world’s largest oil refineries, SWAT keeps its “focus on specialty welding and turnaround services with the high level of craftsmanship of its people, combined with strong company culture,” Managing Director, Craig Kahler of ORIX says, and further adds it “has driven an exceptional performance record in what has become a best-in-class provider” (BicMagazine.com). Ted Patton further added “the team at ORIX has a proven track record of supporting industrial businesses like SWAT and making them even greater organizations” (PRNewswire.com).
In just three short years, SWAT tripled its size. Now, with ORIX as the majority shareholder, their focus on safety, productivity and customer satisfaction, it seems SWAT is destined for even more growth. “It is an exciting time at SWAT,” said Jimmy Quick, co-founder and Vice President of SWAT, “we are constantly enhancing our capabilities and service offerings to better serve our customers. With SWAT’s safety-first culture and industry best productivity, we look forward to what the future holds at SWAT. We are excited to partner with ORIX and continue working with Hastings” (PRNewswire.com).
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Author: IndustrialSage News
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