A New York investment firm has acquired a majority interest in Gonzales-based Specialty Welding and Turnarounds, or SWAT.
Holifield and SWAT VP Jimmy Quick founded the specialty welding company that provides technical turnaround services to the oil and gas refinery, petrochemical and industrial markets in 2014.
“SWAT’s focus on specialty welding and turnaround services with the high level of craftsmanship of its people, combined with a strong company culture, has driven an exceptional performance record in what has become a best-in-class provider,” said Craig Kahler, Managing Director of ORIX Capital Partners. “We are excited to partner with the SWAT management team and Hastings Equity Partners in this next chapter of growth as the company continues to execute on strategic and operational objectives. In addition to being a compelling opportunity, SWAT is highly complementary to OCP’s investment objectives focusing on the industrial and business services sectors.”
The company currently has master service agreements with more than 50 U.S. facilities— including some of the world’s largest oil refineries—and maintains offices in Louisiana, Texas and California, a coverage area spanning more than 14 states as well as a nationwide craft labor database of more 4,000.
Prior to the ORIX Capital Partners acquisition, SWAT was majority-owned by Hastings, a private equity firm focused on investing in middle-market industrial services and equipment companies. Hastings and the SWAT management team will continue to be shareholders in the company in partnership with OCP.