Cision PR Newswire
CAM Industrial Solutions Successfully Completes Acquisition of Worley's North American Maintenance and Turnaround Business and Power Operations and Maintenance Business
News provided byCAM Industrial Solutions LLC
May 26, 2023, 4:49 PM ET
HOUSTON and CALGARY, AB, May 26, 2023 /PRNewswire/ -- CAM Industrial Solutions LLC ("CAM Industrial Solutions") today announced that it has successfully completed its acquisition of Worley's North American maintenance and turnaround business as well as Worley's power operations and maintenance business. The company now has pro forma annual revenue of approximately $800 million, over 5,000 employees, and a leading market position.
Mr. Donovan Boyd, Chief Executive Officer of CAM Industrial Solutions, said, "CAM Industrial Solutions begins a new chapter today. We extend a warm welcome to our newest employees and customers. We will continue to deliver safe, high-quality, and responsive service to our customers, and together we will grow the company into the preeminent provider of hard craft maintenance and turnaround services in North America."
Mr. Mick Kaefer, President of the company, added, "We thank our customers, employees, and investors for their trust in us, and we are committed to exceptional safety processes and to building long-term value for all. We also thank Worley for their support of our business and look forward to continuing to work with them in the future. We are excited to build upon our quality service, which is our key differentiator, and see excellent opportunities for growth ahead."
CAM Industrial Solutions is a portfolio company of an investor group led by Cross Rapids Capital LP ("Cross Rapids Capital"). Cross Rapids Capital is an operationally driven investment firm, focused on acquiring industrial and services companies in North America. Cross Rapids Capital Partner, Mr. Kyle Cruz, concluded, "We are thrilled to partner with the leadership team and employees of CAM Industrial Solutions to accelerate investment in the business and position it for growth."
About CAM Industrial Solutions LLC: CAM Industrial Solutions LLC provides maintenance and turnaround services to refineries, chemical plants, natural resource extraction and processing, and other industrial facilities across the U.S. and Canada, as well as operations and maintenance services to utilities. We employ a variety of craft, including pipefitters, boilermakers, electricians, carpenters, welders, ironworkers, millwrights, equipment operators, riggers, scaffolders, insulators, machinists, HSE technicians, and many others. For more information, please visit camindustrialsolutions.com.
About Cross Rapids Capital L.P.: Cross Rapids Capital L.P. is an operationally driven investment firm, dedicated to North American middle-market industrial and services companies. We partner with owners and management teams to accelerate companies, and we bring decades of sector, operational, and investing expertise and a hands-on, collaborative approach to empower their business success. For more information, please visit crossrapids.com.
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SOURCE CAM Industrial Solutions LLC
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