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Construction

AMECO purchased by New York firm

Construction
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Fluor's Greenville location has now become the launching pad for at least two offshoot companies. (Photo/Molly Hulsey)It was the marriage of Daniel Construction Co. to Fluor Corp. that brought the Fortune 500 giant to Greenville in 1977.

Today AMECO leaves the nest under the wing of One Equity Partners, a middle-market private equity firm that purchased the branch for $73 million. AMECO provides tools, equipment and fleet services for the construction industry and will continue to working with Fluor along with other engineering and construction firms.

Following in the footsteps of Global Location Strategies, a former Fluor ancillary service that became a separate entity in 2009, AMECO will keep its headquarters in Greenville as it serves customers throughout the United States and Canada.

Many former and present AMECO team members will continue to lead the organization, according to a news release, including 2001-2012 AMECO head Gary Bernardez, who will step into his role as the company’s CEO.

“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,” Bernardez said in the release. “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.”

According to AMECO, the company hopes to meet the intensified needs of contractors and owners during the current boom in construction and capital expansion projects following the COVID-19 pandemic, especially as the sector struggles to keep pace with rising demand for services and supplies.

In light of this construction boom, some 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.

Meanwhile, owners and contractors in the construction field have an increasing need for outside help to assist with ensuring early integration with field construction execution, procurement of services and supplies and ensuring timely completion of projects, according to the release.

“Those who use AMECO’s services have seen significant improvements in project cost certainty, efficiency and responsiveness,” Bernardez said in the release.

AMECO’s customizable services moving forward will include forecasting and analysis of project indirect products and services; leveraging buying power; procurement and delivery of supplies; stock analysis and the rapid deployment of resources during shortages and natural disasters.

For more than 70 years, AMECO has provided indirect products and services, including equipment, scaffolding, tools, consumable supplies and fleet management for capital construction, facility operations and maintenance projects.

One Equity Partners is focused on the industrial, health care, and technology sectors in North America and Europe since it was founded in 2001 and spun off from JP Morgan in 2015. Since 2001, the firm has completed more than 300 transactions worldwide, according to the release, and has offices in New York, Chicago, Amsterdam and Frankfurt.

The firm targets companies with a revenue of $100 to $800 million, according to its website.

Reach Molly Hulsey at 864-720-1223.

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