Summit Industrial Construction, LLC, a metro Atlanta, Georgia area-based heavy industrial construction company, has received a majority investment commitment of undisclosed amount from private equity firm The Stephens Group, LLC.
The transaction completes a full recapitalization, which will allow Summit to expand its service capabilities for its clients.
Founded in 1996 by Todd Ballard and Mark Bryan, the company currentlyprovides its customers in the power, chemical, paper, plastics, minerals and mining, and food/beverage markets with solutions including construction, engineering, project planning, fabrication, installation, demolition, and maintenance/repair services.
In conjunction with the investment, Jim Watson, formerly of Teton Industrial Construction and PCL, will become chairman of the board; Jeff Johnson, formerly president of Vratsinas Construction Company, will become CEO. Hunter Carpenter, a managing director at The Stephens Group, is joining Mr. Stephens (CEO and co-chairman of The Stephens Group), Mr. Johnson, Mr. Watson, Todd Ballard, and Jim Ballard on the board of managers.
Summit also has facilities in Georgia and Alabama.
FinSMEs
03/11/2011