AMECO Expands Site Services Offerings with Acquisition of F&M MAFCO

Combined organization extends geographical reach to provide unmatched onsite solutions to construction, maintenance industry challenges

GREENVILLE, S.C. and CINCINNATI, Ohio – AMECO, a leading provider of construction and maintenance Site Services® planning and delivery, announced today that it has acquired F&M MAFCO, an international supplier of tools and equipment rental, sales and service programs. The synergies between both companies will solve construction and maintenance industry challenges by improving the availability of materials, creating onsite labor efficiencies, reducing project costs and enhancing safety and sustainability efforts. Company headquarters will remain in AMECO’s Greenville, South Carolina facility. F&M MAFCO will maintain a significant operations presence in Cincinnati, Ohio.

According to Gary Bernardez, CEO of AMECO, “The transformational combination of these two great brands and teams creates a comprehensive Site Services® offering that is truly unprecedented in our industry. Our combined strengths enable us to expand the boundaries in providing innovative site solutions to our clients on capital construction, facility operations and maintenance projects across a greater geographical reach. This is a game-changer."

Tim Fries, F&M MAFCO's CEO, was named chief growth officer of both organizations and president of F&M MAFCO. He will report directly to AMECO CEO Gary Bernardez and be responsible for developing and implementing a long-term growth strategy that fully leverages the synergies of both businesses to drive comprehensive solutions to clients. Fries will oversee all joint strategic planning, business development, marketing and client success initiatives while maintaining his role as president of F&M MAFCO.

Fries commented, "I am very excited about the growth potential that a combined AMECO and F&M MAFCO product and services offering can have on our businesses. Both companies have great brand recognition and reputations in the marketplace. More importantly, we share common core values and company cultures, which will be a key ingredient in delivering exceptional service to clients and securing our future success.”

Bernardez added, “In today’s business environment, the ability to deliver onsite solutions that provide cost certainty, reduce redundancy of sitewide services, enhance site ESG and sustainability programs, increase uptime and improve labor efficiencies is a huge win for our clients. Together, AMECO and F&M MAFCO will deliver unmatched levels of innovation, efficiency and value across multiple industries. We make a powerful team.”

AMECO is a portfolio company of One Equity Partners, a middle market private equity firm focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe.

About AMECO
Based in Greenville, South Carolina, AMECO is a privately held company owned by middle-market private equity firm One Equity Partners (OEP). As a Site Services® company, AMECO delivers unique solutions for efficient planning and management of construction indirect products and services, such as scaffolding, tools, water and ice distribution, fueling, vehicles and construction equipment, throughout the project life cycle to the construction and maintenance markets in North America. Industries served include energy, chemicals, advanced technology, biotech, manufacturing, infrastructure, mining and government. For more information, please visit www.ameco.com.

About F&M MAFCO
Based in Cincinnati, Ohio, F&M MAFCO is a leading international tool and equipment rental, sales and service company. The company specializes in providing tool and equipment rental, sales and service programs in the construction and heavy industrial markets across many industry segments, including power generation, manufacturing, petrochemical, chemical, bridges, marine, pulp and paper and mining. For more information, please visit www.fmmafco.com.

About One Equity Partners
One Equity Partners is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.