Alston & Bird client Ridgemont Equity Partners, a middle market buyout and growth equity investor, has closed a majority equity investment in Abrasive Products & Equipment, a Texas-based specialty distributor of surface preparation, remediation, abatement, safety, environmental and waterjet cutting products and solutions. This is the second transaction acted on by Alston & Bird for Ridgemont in recent weeks and follows Ridgemont’s acquisition of a majority stake in Cross River Fiber Inc. on August 13, 2014.
Abrasive Products & Equipment operates through four brands – AP&E, BKW, SharpJet and Safety Pros – out of 14 locations throughout the Gulf Coast and Mid-Atlantic regions. The company serves petrochemical infrastructure, offshore drilling, shipyard operators, oil & gas pipeline infrastructure, waterjet cutting solutions, and general manufacturing, healthcare and government sectors.
Advising Ridgemont was an Alston & Bird team comprising partners Mark Kelly, Bryan Ives, Scott Kummer and associate Anna Short (Corporate) and partner Deanna Kashdan and counsel Jessica Royko (Finance).