WASHINGTON, DC, September 28, 2004 – Arlington Capital Partners, a Washington DC-based private equity fund, in partnership with the Company’s existing management, today announced the acquisition of SECOR International Inc., a privately-held provider of environmental consulting services. SECOR represents Arlington’s eighth acquisition (and fourth platform acquisition) over the last 18 months.
SECOR is a national provider of remediation management, consulting, compliance and permitting services to the petroleum, chemical, industrial, pulp & paper and power industries, among others. The Company is a market leader in providing such services to the petroleum industry. SECOR, which is headquartered in Redmond, Washington, has expected revenue of $125 million. SECOR has 41 offices with a staff of approximately 800 engineers, geologists, scientists, and technicians.
“We are attracted to the environmental engineering and consulting segment of the professional services marketplace because it offers significant consolidation opportunities. We were particularly attracted to SECOR because of its strong technical capabilities and continuous relationships dating back over 10 years with its largest customers,” said Peter Manos of Arlington Capital Partners. “The Company’s long history of solving difficult technical issues for blue chip clients has enabled it to become the number one or number two provider of environmental consulting services to many of its largest clients.”
SECOR is led by Chief Executive Officer Jim Vais. Mr. Vais has over 23 years of experience in the environmental services industry and has been the CEO of SECOR since 1998. “We are excited to be moving forward into our next phase of growth with Arlington as our partner,” said Vais. “Arlington’s resources and extensive expertise with professional services firms will prove to be an asset as we continue to improve and expand our services to existing clients, and develop significant relationships with new customers. Arlington also provides us the means to augment our service capability with add-on acquisitions.”
“SECOR is one of the largest providers of remediation consulting services to the petroleum sector,” said Michael Lustbader of Arlington Capital Partners. “Bolstered by the continuing trend of supplier consolidation, SECOR should be able to grow its market share by expanding its presence with existing customers, developing new relationships within the petroleum industry and other large environmental market sectors, and selectively acquiring competitors. SECOR has the accomplished management team, technical capability and infrastructure in place to benefit from these industry trends.”
About Arlington Capital Partners:
Arlington Capital Partners is a Washington, DC-based private equity fund with over $450 million of committed capital focused on middle market buyout investment opportunities in growth industries including the business services and outsourcing, aerospace/defense, IT and engineering services, media, education and training, healthcare services, and specialized manufacturing and related industries. The firm’s professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company‚s position as leading competitors in their field.
Contact: Peter Manos
Arlington Capital Partners
5425 Wisconsin Ave
Chevy Chase, MD 20815
(202) 337-7525 (fax)
SOURCE: Arlington Capital Partners