ASRC Announces Industrial Services Acquisitions
National Environmental Group and Niles Construction Services join ASRC Industrial Services
Arctic Slope Regional Corporation (“ASRC”) announced the acquisitions of National Environmental Group (“NEG”) and Niles Construction Services (“NCS”) by its wholly-owned subsidiary ASRC Industrial Services, LLC (“AIS”).
Both companies are headquartered in Flint, Michigan, and provide services throughout the Great Lakes Region. NEG is a full service environmental remediation company specializing in asbestos / lead abatement, waste disposal, and site decontamination services. NCS is a painting and coatings contractor. The Companies serve a diverse customer portfolio made up of industrial, automotive, and commercial customers.
Since founding in the early 2000s, NEG and NCS have differentiated themselves from competitors via the quality of services and ability to take on and master complex, challenging projects. NEG will join AIS’s Remediation and Response Services (“RRS”) operating group and NCS will join AIS’s Construction, Maintenance, and Repair (“CMR”) operating group. Each company fills a gap in AIS’s existing portfolio and adds another skilled group of employees to the expanding enterprise.
“Today is another exiciting day in the pursuit of the AIS strategy that was initiated in September 2016,” said Rex A. Rock Sr. president and CEO of ASRC. “On behalf of ASRC’s board of directors, it’s my privilege to welcome the management team and talented employees of National Environmental and Niles Construction to the ASRC family of companies. I am confident they will work closely with the AIS team to achieve AIS’s vision of building something unique in the industrials service market, thereby providing additional opportunities for employees and enduring benefits for ASRC’s shareholders.”
“The additions of NEG and NCS to AIS’s RRS and CMR groups, respectively, on the heals of Wednesday’s announcement of the addition of K2 Industrial Services, demonstrates ASRC’s commitment to the AIS vision,” said Greg Johnson, president and CEO of AIS. “The AIS management team appreciates ASRC’s contined support and looks forward to working with the teams at NEG and NCS to build on the companies’ well-earned reputations and in the process, provide additional opportunities for their talented workforces, bring additional services to customers and ultimately deliver meaniningful benefits to ASRC’s shareholders.”
“Selling a business is always a tough decision, particularly when the impacts on employees and customers are taken into account,” added Tom Niles, founder and president of Niles Construction Services. “After getting to know the AIS team and learning about ASRC’s commitment to the industrial services market, I quickly recognized AIS was the right long-term home for Niles Construction Services.”
“When we began thinking about NEG’s future, we were looking for another family company to call home,” said Tim Niles, President of National Environmental Group. “ASRC and AIS give us that family culture while providing new opportunities to our most valuable asset, our employees.”
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