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Country Artist & Combat Veteran Ryan Weaver Releases “Let’s Talk About Heroes” for Veterans Day
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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.”
About AMECO
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.
AmeriVet Announces New Co-CEOs, & Hires Two Women Veterans
AmeriVet Securities, Inc., (AVI) announced today that Mercedes Elias and Michael Naidrich have been appointed Co-CEOs. Additionally, the firm hired two new employees, both of whom are women veterans.
Ms. Elias, a U.S. Marine Corps veteran, is currently the only woman veteran to lead a service-disabled broker-dealer in the Diversity and Inclusion space on Wall Street.
Ms. Elias served on active duty for nearly 10 years as an administrative and legal officer. During her time in the military, she rose to the rank of Captain and deployed to Afghanistan from 2011 to 2012. She separated from the service in 2016 and remained in New York to focus on the veteran community, and support military members as they transitioned into the corporate world.
In 2018, AVI took notice of Ms. Elias and hired her as the firm’s Head of Veteran Engagement. Over the past three years, she significantly bolstered AVI’s veteran initiatives by securing crucial partnerships with multiple organizations, including a high-profile event with the Gary Sinise Foundation, which had a special focus on Gold Star families – those who have lost a family member during active duty.
Additionally, Ms. Elias played an integral role in the firm’s goal of hiring 50% military veteran staff and created a year-round, paid internship program that has since launched prior military veterans into positions at bulge bracket banks.
Last summer, she was appointed to the NYC Veterans Advisory Board, a diverse group of veterans, including only four women, who represent the five boroughs of NYC. The role is a highly sought-after position and board members must receive appointments through the Office of the Mayor or City Council.
Mr. Naidrich began his financial services career in 1993. He joined AVI as COO in 2017 and developed the framework to successfully relaunch the firm in 2018. He currently leads the firm’s operating committee and management team, and oversees organizational support for both domestic and international clients.
Most recently, Mr. Naidrich worked at Tigress Financial Partners in NYC and earlier this year, he graduated from Harvard Business School’s Advanced Management Program.
“Mercedes and Michael have done an amazing job shaping the firm and will continue to build the business as I concentrate on my new role as Non-Executive Chairman,” said Elton Johnson, Jr., Founder of AVI. “This will enable me to focus full-time on the firm’s commitment to the Diversity and Inclusion space while they work through day-to-day efforts as Co-CEOs.”
In addition, AVI has two new employees joining the firm: Sidney Covington, a former medic in the U.S. Army and Jennifer McDonough, a U.S. Navy Reservist.
Ms. Covington serves as the veteran engagement associate at AVI’s Chicago office. In addition to her military service, she previously worked for the Posse Veterans Program and recently served as the Constituent Liaison for Military and Veterans Affairs in Senator Kirsten Gillibrand’s office. There, she spearheaded veteran outreach and assisted in the nomination process for U.S. Service Academies.
Ms. McDonough is an operations associate at AVI and currently serves as a Commander in the U.S. Navy Reserves. She most recently worked as the Director of Administration at a securities broker-dealer in New York City.
“Ms. Covington and Ms. McDonough are extremely talented individuals,” said Bob Jones, President of AVI, U.S. Air Force veteran and former Vietnam Prisoner of War. “They are both veterans who are passionate about giving back to the community and I’m excited to welcome them to our team.”
With the addition of Ms. Covington and Ms. McDonough, more than 50% of AVI’s current staff are military veterans and 30% are minorities.
About AmeriVet Securities, Inc.
AmeriVet Securities, Inc. (AVI), is a Service-Disabled Veteran-Owned Small Business broker-dealer that specializes in Capital Markets, Public Finance, Institutional Agency Trading, Loan Sales and Investment Banking. AVI is dedicated to providing the highest level of service in the industry, while also providing meaningful employment opportunities to post-9/11 military veterans.