Hastings Equity Partners-backed A&L Industrial Services and Axios Industrial Group LLC which is also backed by White Deer Energy have finished their formerly announced merger.
The entities involved has not disclosed any financial terms that were pertinent in the merger. The newly formed company will operate under the name Axios. Axios and A&L deals in a variety of products which includes Axios and scaffolding, insulation, painting, coating and liners, sandblasting, heat tracing, fireproofing and other soft craft services.
The management of both companies believe the combination of the two entities will have strong capital base and better serve the interest of both customers.
The Chairman and CEO of Axios Joe Compofelice said “This merger of AXIOS and A&L has the right mix of similarities and differences. We have essentially the same product and service offerings in the same geographic markets, with different customer bases and industry segment strengths.
Combined, we will offer our clients even greater service, expertise and efficiency”