Capital Construction and Maintenance Support Field Services Company AMECO Spun Off From Fluor Corporation
New, independent company will offer world-class expertise to fill critical market need for enhanced site support services to contractors and owners
AMECO, one of North America’s leading construction and maintenance field services planning and management companies, was recently spun off by its parent company, Fluor Corporation. The company, which is headquartered in Greenville, S.C, with field operations throughout the United States and Canada, was purchased by middle market private equity firm One Equity Partners (OEP) for $73 million.
For more than 70 years, AMECO has managed and provided indirect products and services, including equipment, scaffolding, tools, consumable supplies and fleet management for capital construction, facility operations and maintenance projects on a global scale. Taking an integrated and collaborative approach to project management, AMECO is the premier company providing complete, packaged solutions to the industry. As an independent organization, AMECO will bring its world-class expertise to bear for a larger range of customers throughout the United States and Canada to enhance efficiency, increase craft productivity, streamline billing and supply chain management and reduce costs for large projects and ongoing maintenance needs.
The deal comes at a time of unprecedented opportunity and pressure for large contractors and owners alike. The current boom in construction and capital expansion projects in the wake of the COVID-19 pandemic has left the industry struggling to keep pace with rising demand for services and supplies. Many EPC companies such as Fluor are reducing the scope of their equipment and field services divisions in favor of focusing time and resources on core competencies, while owners and contractors in the construction field have an increasing need for outside help to assist with ensuring early integration with field construction execution, efficient procurement of services and supplies, reducing spiraling indirect costs and ensuring timely completion of projects, all areas where AMECO excels.
AMECO’s comprehensive and customizable services include:
- Forecasting and analysis of project indirect products and services
- Leveraging buying power to ensure availability and cost-effective procurement and delivery of supplies and consumables at a time when supply chain issues abound
- Front-end rent/lease/buy rolling stock analysis
- Planning and rapid deployment of resources for shutdowns, turnarounds, outages and disaster relief and recovery
- Providing maintained equipment, tools, supplies, consumables, scaffolding and indirect services such as fueling, on-site water distribution and dust control
“Those who use AMECO’s services have seen significant improvements in project cost certainty, efficiency and responsiveness,” noted AMECO CEO Gary Bernardez. “As a stand-alone company, we are better able to market and promote our services to a wider range of companies at a time when our expertise and history of simplifying site execution complexities and delivering value and bottom-line ROI are needed more critically than ever. OEP’s investment in AMECO demonstrates the significant opportunity in the North America market. It’s game on in the markets of capital construction and operations maintenance industries, and AMECO is here to be a trusted advisor and partner to our clients.”
As a field services company, AMECO delivers unique solutions for efficient planning and management of indirect construction products and services throughout the project life cycle to the construction and maintenance markets in the U.S. and Canada. Headquartered in Greenville, S.C., AMECO serves owners and contractors on capital construction projects and in ongoing facility operations with an emphasis on energy, chemicals, mining, biotech, manufacturing and infrastructure end markets. Customers depend on AMECO as a trusted advisor with expertise in simplifying site execution complexities. For more information, please visit www.ameco.com.
About One Equity Partners
One Equity Partners (OEP) is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds 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.