Arlington Capital Partners Announces Sale of SECOR International, Inc. to Stantec, Inc.
WASHINGTON, DC, February 11, 2008 — Arlington Capital Partners, a Washington, DC based private equity firm, today announced the sale of one of its portfolio companies, SECOR International, Inc. to Stantec Inc., a leading international provider of professional consulting and engineering services based in Edmonton, Canada.
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, and has 41 offices with a staff of approximately 700 engineers, geologists, scientists, and technicians. Arlington Capital supported a management buyout recapitalization in 2004.
“SECOR has been a very successful investment for Arlington Capital and it is another example of one of our portfolio companies being acquired by a publicly traded strategic entity. This transaction is indicative of the value created by the Company’s strong strategic positioning within the engineering services market, its valuable long-term customer relationships and its strong growth prospects,” said Peter Manos, Partner at Arlington Capital Partners.
Michael Lustbader, Principal at Arlington Capital, said “Under the leadership of Jim Vais, Jim Baumgardner and the entire SECOR management team, the Company was able to combine its strong competitive position with operational enhancements to generate significant profitability gains during our ownership. SECOR’s growth and dominant position in remedial environmental solutions to the downstream energy marketplace were critical to our collective success.”
Jim Vais, SECOR’s Chief Executive Officer, said, “Arlington Capital’s relationships, financial expertise, and operational discipline were all important factors in our recent growth, and we have enjoyed a strong and productive partnership with the firm. Now, joining Stantec will enable us to take a big step forward in our corporate development. Stantec shares our commitment to excellence and we look forward to continuing to provide services to our existing clients while accelerating our growth by increasing our service offerings and developing new relationships with Stantec’s client base.”
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About Arlington Capital Partners:
Arlington Capital Partners is a Washington, DC-based private equity firm focused on middle market buyout investment opportunities in growth industries including: aerospace/defense, IT and engineering services, media, education & training, healthcare services, business services & outsourcing, and specialized manufacturing and related industries. 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.
About SECOR International, Inc.:
SECOR International Incorporated (SECOR) is a Redmond, Washington headquartered firm with more than 700 employees and 40 offices principally in the United States. SECOR is a leading provider of environmental consulting and engineering services to the private sector and is one of the largest providers of downstream marketing remedial services to the US energy industry. In addition, SECOR provides comprehensive environmental remediation services to the manufacturing, chemical, pulp and paper, and transportation industries. Founded in 1989, SECOR’s skilled professionals include engineers, scientists, geologists, project managers, and field technicians. The company’s services include environmental due diligence and auditing, remediation, and environmental permitting and compliance services for some of the world’s largest oil and gas and manufacturing companies. In 2007, SECOR generated gross revenue of approximately US$125 million.
About Stantec Inc.:
Stantec provides professional design and consulting services in planning, engineering, architecture, surveying, economics, and project management. Stantec supports public and private sector clients in a diverse range of markets in the infrastructure and facilities sector at every stage, from initial concept and financial feasibility to project completion and beyond. Stantec’s services are offered through over 8,500 employees operating out of more than 125 locations in North America. Stantec trades on the TSX under the symbol STN and on the NYSE under the symbol SXC.
Contact: Peter Manos
Arlington Capital Partners
5425 Wisconsin Ave
Chevy Chase, MD 20815
(202) 337-7525 (fax)
SOURCE: Arlington Capital Partners