APE Companies Acquires Corrosion Specialties

APE Companies (“APE”) today announced the acquisition of Corrosion Specialties, Inc. (“Corrosion Specialties” or “CSI”). Corrosion Specialties is a full service distributor of corrosion control equipment and consumable products to the transportation, manufacturing, and energy industries. CSI will continue to operate a distribution center in its Duluth, Georgia, headquarters and a distribution center in Jacksonville, Florida. Financial terms of the transaction were not disclosed.

“CSI has been a well-respected name in the abrasives business for fifty years and we’re very excited to welcome the team to our family of companies,” said Kevin Willis, CEO of APE Companies. “This addition to our partnership will further propel the growth of APE through geographic market expansion into the Southeast, end user diversification and a larger product and service offering for CSI’s customers.”

“Becoming part of the APE platform is transformational for our business,” added Matt and Andy Steinmann, owners of Corrosion Specialties, in a joint statement. “We now have access to more abrasive products and rental equipment as well as new access to safety related products and equipment to better serve our existing customers and attract new business. We have known the APE management team for many years and share the same vision on how to grow and adapt to changing demands in the market.”

APE Companies is a portfolio company of Ridgemont Equity Partners.

About APE Companies (APE)
APE Companies is a leading distributor of surface preparation, safety and environmental management products, supplying contractors who maintain and repair industrial facilities and equipment. APE proudly serves the Gulf Coast, Mid-Atlantic and Southeast markets. Our family of companies includes Abrasive Products & Equipment, BKW Environmental, Sharpjet and Corrosion Specialties. APE is headquartered in Deer Park, Texas. www.apecompanies.com

About Corrosion Specialties, Inc. (CSI)
Corrosion Specialties is part of the APE family of companies. CSI is a full service distributor of corrosion control equipment and consumable products to the transportation, manufacturing, and energy industries. Corrosion Specialties is headquartered in Duluth, Georgia, with an additional distribution facility in Jacksonville, Florida.www.corrosionspec.com

About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested approximately $3.5 billion in 126 companies. The firm focuses on investments of $25 million to $100 million in industries in which it has deep expertise, including basic industries and services, energy, healthcare, and telecommunications/media/technology. www.ridgemontep.com.