Industry News, trenchless people
East Canton, Ohio – Barbco, Inc, a world class manufacturer of capital equipment for the trenchless excavation, horizontal directional drilling, and underground manufacturing industries is pleased to announce, Thomas W. Schmidt, has been promoted into the newly created position of Vice President, Business Development. Mr. Schmidt is Manufacturing veteran with many years of leadership in numerous local plants including Harrison Paint, Heinemann Saw Company, and Georgia Pacific. While reporting directly to the Owners, he will lead the charge to world domination of the capital equipment market for the trenchless excavation and underground manufacturing industries.
Mr. Schmidt is a long time Canton, Ohio resident with a B.A. from Kent State University (Summa Cum Laude), a M.B.A. from the University of Akron (Cum Laude), holds APICS certification, and is a Leadership Stark County graduate. He is also a passionate local business advocate and dedicated community volunteer. Currently, he is the Treasurer for the National Sales and Marketing Executives, Akron Canton Board of Directors. He has recently been elected as Vice President of the newly formed Stark County Manufacturer’s Workforce Development Partnership. Moreover, he serves on the Governor’s blue ribbon Manufacturing Extension Partnership Progressive Roundtable in the state of Ohio.
Last fall, Mr. Schmidt was ‘knighted’ as a Squire of Hope by the St. Baldrick’s Foundation recognizing his long history in raising both awareness and money in the Fight Against Childhood Cancer! Finally, by Mayoral Proclamation, May 10th is officially “Tom Schmidt Day” in Massillon, Ohio in recognition of his decades of community service and charitable activities to make his community a great place to live, work, and play. He resides in Canton, Ohio and is married with two sons and two granddaughters.
Industry News, trenchless people
Barbco, Incorporated, is a family-owned and operated business that believes in giving back to the community. They have again partnered with the Stark County Hunger Task Force and support their mission.
A little bit of background on this wonderful organization is in order. Since 1981, the Stark County Hunger Task Force has helped serve the hungry of our community. This organization provides financial, logistical, strategic, and food assistance to a network of over 30 food pantries throughout Stark County. These resources assist their pantries in providing a three-to-five day supply of nutritious, free groceries to families struggling with food insecurity. In 2009, the SCHTF opened its emergency food pantry with the desire to see it act as a safety net to fill any gaps in our food assistance service. The SCHTF pantry is open five days a week thanks to their staff, contracted employees through Mature Services and the Ohio Department of Jobs and Family Services, and many dedicated volunteers who keep it running smoothly.
This year, Barbco Pride collected 257 items weighing it 245 pounds over the holidays and kept at it in January until they beat their inaugural years drive in both number of items and weight of food.
Barbco looks forward to partnering again with the great team at the Stark County Hunger Task Force.
Industry News, trenchless people
ST. LOUIS, Feb. 16, 2021 (GLOBE NEWSWIRE) — Aegion Corporation (NASDAQ:AEGN), a leading provider of infrastructure maintenance, rehabilitation and protection solutions, today announced that it has entered into a definitive merger agreement with affiliates of New Mountain Capital, L.L.C., (“New Mountain”, and together with such affiliates “Buyer”), a leading growth-oriented investment firm headquartered in New York, in a transaction valued at approximately $963 million that will result in Aegion becoming a private company.
Under the terms of the agreement, Buyer will acquire all outstanding shares of Aegion common stock for $26.00 per share in cash. This represents a premium of approximately 21% over Aegion’s closing stock price of $21.45 on February 12, 2021, the last trading day prior to today’s announcement and a premium of approximately 28% to Aegion’s 30-day volume weighted average price as of February 12, 2021. The transaction, which was unanimously approved by the Aegion Board of Directors, is expected to close in the second quarter of 2021.
“We are pleased to reach this agreement with New Mountain, which is in the best interests of Aegion stockholders and enables them to realize immediate value at a significant cash premium for their investment,” said Stephanie Cuskley, Chairwoman of the Aegion Board. “Following a comprehensive evaluation of potential value-creation opportunities with our independent advisors over the last several years, the Board unanimously approved this transaction with New Mountain, which has a proven track record of supporting businesses through investments in R&D and capital expenditures that recognize the value of achieving differentiated long-term growth.”
“Over the past several years, we have actively reshaped Aegion into a more streamlined and focused company. This transaction provides stockholders a premium valuation, recognizes the value our team has created and represents a new chapter for our company,” said Charles R. Gordon, Aegion’s President and Chief Executive Officer. “As a private company, we will have the resources and long-term approach to build on our progress and further enhance our differentiated portfolio of technologies. We have met with the New Mountain team several times in recent years and are confident in their focus on supporting our business, our people and achieving our long-term goals. We look forward to working together with New Mountain as we continue to deliver transformational solutions to maintain, rehabilitate and protect critical infrastructure around the world.”
Harris Kealey, Managing Director at New Mountain Capital, commented, “We have long admired Aegion, its management team and talented employees, and we believe New Mountain can bring the key ingredients Aegion needs to continue on its successful trajectory. By combining Aegion’s existing strengths with our experience identifying and investing in high-quality growth businesses that provide infrastructure services, protection and maintenance across water, power and broad infrastructure assets, such as Inframark, Pearce Services and TRC Companies, Aegion will be well-positioned to advance its client offerings and technological capabilities through continued investments in its business. This will lead to new opportunities for employees and development of innovative solutions that protect communities and their infrastructure.”
Mr. Gordon will remain with the Company through the completion of the transaction to ensure a smooth ownership transition and continuity of operations. The acquisition recognizes the long and successful heritage of Aegion in St. Louis and in the many communities where Aegion and its subsidiaries operate across the globe. The talented management team and loyal employee base are critical to the day-to-day success of the Company, and there is no expectation to relocate the headquarters away from the metropolitan area. New Mountain also expects to maintain Aegion’s significant presence in its field offices around the world.
Upon the close of the transaction, New Mountain will review the previously announced sales process for Aegion’s Energy Services segment and determine what best positions the business for long-term success.
Transaction Details & Path to Completion
The transaction is expected to close in the second quarter of 2021 and is subject to Aegion stockholder approval, regulatory approvals and other customary closing conditions. The transaction is being financed through a combination of equity from affiliates of New Mountain and debt being provided by a combination of Jefferies, Credit Suisse and Deutsche Bank Securities Inc.
The Aegion Board of Directors recommends that Aegion stockholders approve the proposed merger and merger agreement. Aegion expects to hold a Special Meeting of Stockholders to consider and vote on the proposed merger and merger agreement as soon as practicable after the mailing of the proxy statement to its stockholders. Upon completion of the transaction, Aegion will become a privately held company and shares of Aegion common stock will no longer be listed on any public market.
Fourth Quarter and Fiscal Year 2020 Earnings Results
Aegion expects its fourth quarter and fiscal year 2020 earnings results to be in line with expectations. The Company intends to announce its results on March 10, 2021.
Advisors
Centerview Partners LLC is serving as exclusive financial advisor to Aegion, and Shearman & Sterling is serving as legal counsel. Jefferies and Houlihan Lokey are serving as financial advisors to New Mountain Capital, and Ropes & Gray is serving as legal counsel.
About Aegion Corporation (NASDAQ: AEGN)
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure.®
More information about Aegion can be found at www.aegion.com.
Industry News, trenchless people
In his five years with Primus Line, John Moody has been instrumental in establishing Primus Line trenchless technology in the U.S. marketplace. He has been able to build strong customer relationships, attract new partners, and focus operators and utilities on the benefits of the product.
For John Moody, the biggest challenge facing the Canadian and U.S. markets is the shift from gravity lines to pressure pipes: “The failure rate in the pressure pipe segment with ductile iron and cast iron along with the challenges associated with asbestos cement pipe is increasing exponentially. Expertise and awareness is growing, but the transition from gravity piping to pressure piping is significant. This is where the 20 years of experience we have with Primus Line is critical.” That is why he sees it as his job to educate pipe owners about the real advantages and disadvantages of the various rehabilitation methods in each individual case. “Not just making a sale but building trust with the owner is the ultimate goal.”
Among other projects, John Moody was involved in the Fort Lauderdale drinking water emergency bypass kit and the rehabilitation of 18,000 feet of a 6 inch wastewater line at the Houston Oil Refinery. The latter project involved Primus Line’s longest pull-in in one piece in the U.S. to date (4,500 feet).
John Moody has been a salesman or project manager in the construction industry for over 25 years in areas including highway, water, stormwater and sewer. He has now spent the last ten years heavily involved in sales of pipe lining, spiral pipe and CIPP for pressure pipe.
In his new role, he will guide the market growth efforts and client sales of the Primus Line Inc. in the U.S. and Canada. Together with his team of four Area Sales Managers, he will continue to promote the trenchless technology and provide excellent technical solutions using the Primus Line® system. John Moody is sure: “2021 is going to be our best year yet!”
Contact
John Moody
Director of Sales
Mobile: +1 704-569-4460
john.moody@primusline.com
Industry News, trenchless people
Robbins Brand to continue under Global TBM Company
[SOLON, OH, February 8, 2021] Global TBM Company, newly established by industry veteran Lok Home, is proud to announce the recent purchase of substantially all the assets of The Robbins Company. The company will operate as Robbins and with Mr. Home as the President and CEO. The acquisition will result in a seamless transition for a number of ongoing projects throughout the world, as Robbins renews its commitment to service, quality underground equipment, and top-notch support that its customers have come to expect. For a brief message from Lok Home, view the video here.
Home said the company has a bright future as a result of the transaction. We are starting off the new year with a respectable backlog of orders,” he noted. “In 2021 and beyond, our clients can depend on Robbins to deliver high quality machines, and technically superior machines for very difficult projects,” said Home. “That’s where Robbins really stands out.”
Home went on to say that Robbins is starting 2021 with no significant bank or institutional debt. “We have many projects to look forward to,” he continued. “Robbins is currently delivering Crossover machines and TBMs equipped for challenging geological conditions in many countries including the U.S., Norway, India, China and Canada.” The company’s conveyor and small boring machine divisions will also continue to deliver equipment worldwide.
Home emphasized that Robbins has always been focused on building the best and strongest machines. He pledged that they will continue to do that. “We still have our strong engineering team and we plan to continue our many industry involvements including the International Tunneling Association (ITA) and its associate member organizations. We’re glad to be a part of this community and this industry,” Home added.
The company expects to continue with exciting new developments as well, including a soon-to-be-unveiled non-circular rock boring machine. Robbins remains focused on creativity and innovation to solve the industry’s greatest challenges.
About Robbins
Robbins is one of the world’s foremost developers and manufacturers of advanced, underground construction machinery. Headquartered in Solon, Ohio, USA, Robbins is a total supply firm offering customized Tunnel Boring Machines, conveyors, cutters, and more, as well as knowledgeable field service personnel and technical support. The company has been an active industry participant and innovator for nearly 70 years.
From the first modern Tunnel Boring Machine built in 1952 to recent innovations such as the Crossover TBM for varied ground conditions, Robbins engineering and innovations have made a success of the world’s most difficult tunneling projects.
View a message from Robbins President Lok Home: https://youtu.be/2ZO9X2gZ5Mg
Learn More: https://www.robbinstbm.com
East Canton, Ohio – Barbco, Inc, a world class manufacturer of capital equipment for the trenchless excavation, horizontal directional drilling, and underground manufacturing industries is pleased to announce, Thomas W. Schmidt, has been promoted into the newly created position of Vice President, Business Development. Mr. Schmidt is Manufacturing veteran with many years of leadership in numerous local plants including Harrison Paint, Heinemann Saw Company, and Georgia Pacific. While reporting directly to the Owners, he will lead the charge to world domination of the capital equipment market for the trenchless excavation and underground manufacturing industries.
Last fall, Mr. Schmidt was ‘knighted’ as a Squire of Hope by the St. Baldrick’s Foundation recognizing his long history in raising both awareness and money in the Fight Against Childhood Cancer! Finally, by Mayoral Proclamation, May 10th is officially “Tom Schmidt Day” in Massillon, Ohio in recognition of his decades of community service and charitable activities to make his community a great place to live, work, and play. He resides in Canton, Ohio and is married with two sons and two granddaughters.
