ASRC Acquires K2 Industrial Services
Arctic Slope Regional Corporation (ASRC) announced the acquisition of K2 Industrial Services (K2) by its wholly-owned subsidiary ASRC Industrial Services, LLC (AIS).
K2 is headquartered in Houston, Texas and is the parent company of KM Plant Services (KMP), KM Industrial Services (KMI) as well as Mansfield Industrial. KMP and KMI provide industrial cleaning services in the Midwest and California, while Mansfield provides multi-craft services, focused in the Gulf South. The companies serve a diverse customer portfolio made up of industrial, oil and gas, power and commercial customers.
Since its establishment in 1995, K2 has grown through both organic and acquisitive means. The company has differentiated itself from competitors via the quality and safety of services provided to a diverse customer base. KMP and KMI will join AIS’s Remediation and Response Services (RRS) operating group and Mansfield 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.
“On behalf of ASRC’s board of directors, I am pleased to welcome the management team and talented employees of K2 Industrial Services to the ASRC family of companies,” said Rex A. Rock Sr., president and CEO of ASRC. “The acquisition of K2 and the associated companies make it 10 acquisitions we have made in pursuit of the AIS strategy initiated in September 2016. I am happy with the progression of the strategy to date, and am confident the AIS and K2 management teams will work collaboratively to sustain the positive momentum and ultimately create a scaled platform that delivers durable, enduring benefits to ASRC’s shareholders.”
“Adding K2’s capabilities to AIS’s existing portfolio is further evidence of ASRC’s commitment to pursuing the AIS vision of building an enduring, employee-centric, customer-focused, value-added service provider focused on the industrial market complex,” said Greg Johnson, president and CEO of AIS. “The AIS management team appreciates ASRC’s support and looks forward to working with the team at K2 and the underlying companies 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 enduring benefits to ASRC’s shareholders.”
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