One Equity Partners (OEP), a middle market private equity firm, announced May 4 it has agreed to acquire the North American operations of AMECO, a full-service provider of construction equipment, scaffolding, small tools management and total site solutions headquartered in Greenville, South Carolina from Fluor Corporation for $73 million.
AMECO plans to grow its customer base by delivering construction asset management and site services focused on enhancing craft productivity and cost certainty to site operators and engineering, procurement and construction customers.
“We’re excited about our partnership with OEP, a firm with an excellent reputation and proven experience in building industrial services businesses into market leaders,” said Gary Bernardez, who led AMECO from 2001 to 2012 and will become CEO of AMECO upon the transaction’s closing. “We are looking forward to leveraging AMECO’s significant experience on construction sites and operating facilities to more broadly serve the market as we transition to an independently-operated business.”
In October 2019, OEP acquired ORS Medco, a wholesaler of maintenance and repair-focused non-discretionary and consumable industrial and automotive aftermarket products, from Essendant Inc. The firm also acquired Walterscheid Powertrain Group, a provider of original equipment and aftermarket parts and services for off-highway powertrain applications, from GKN Limited in June 2019.
The acquisition is expected to close by the end of June.