Aegion completes transaction with affiliates of New Mountain Capital
Published by Aimee Knight,
Editorial Assistant
World Pipelines,
Aegion Corporation, a leading provider of infrastructure maintenance, rehabilitation and protection solutions, has announced the successful completion of the previously announced transaction under which affiliates of New Mountain Capital, L.L.C. (New Mountain) acquired all outstanding shares of Aegion for US$30.00 per share in cash.
As a result of the transaction, Aegion has become a private company and its common stock will no longer be listed for trading on the Nasdaq stock market. Robert (Rob) M. Tullman has been appointed President and Chief Executive Officer of Aegion Corporation, effective May 18, 2021, following the planned retirement of outgoing President and Chief Executive Officer Charles R. Gordon.
Mr. Tullman commented, “The completion of this transaction represents the exciting first step in advancing Aegion’s compelling near- and long-term growth prospects as an industry leader and a protector of communities and the environment. I look forward to working with the dedicated teams as we leverage our differentiated portfolio of technologies and delivering transformational solutions to maintain, rehabilitate and protect critical infrastructure around the world.”
Advisors
Centerview Partners LLC served as exclusive financial advisor to Aegion, and Shearman & Sterling LLP served as legal counsel. Jefferies and Houlihan Lokey served as financial advisors to New Mountain Capital LLP, and Ropes & Gray served as legal counsel.
Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insight and technical articles.
World Pipelines’ May 2021 issue
The May issue of World Pipelines includes a regional report on Canada’s oil and gas sector, as well as technical articles on integrity management software, leak detection, NDT, and project case studies. Don’t miss our feature on young pipeliners, in which World Pipelines’ Senior Editor Elizabeth Corner interviews the winners of the John Tiratsoo Award for Young Achievement, awarded by Young Pipeliners International, in partnership with PPIM.
Read the article online at: https://www.worldpipelines.com/business-news/18052021/aegion-completes-transaction-with-affiliates-of-new-mountain-capital/
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