26-05-2023

CAM Industrial Solutions acquires Worley's North American maintenance and turnaround business

CAM Industrial Solutions LLC today announced that it has successfully completed its acquisition of Worley's North American maintenance and turnaround business as well as Worley's power operations and maintenance business. The company now has pro forma annual revenue of approximately $800 million, over 5,000 employees, and a leading market position.

Mr. Donovan Boyd, Chief Executive Officer of CAM Industrial Solutions, said, "CAM Industrial Solutions begins a new chapter today. We extend a warm welcome to our newest employees and customers. We will continue to deliver safe, high-quality, and responsive service to our customers, and together we will grow the company into the preeminent provider of hard craft maintenance and turnaround services in North America."

Mr. Mick Kaefer, President of the company, added, "We thank our customers, employees, and investors for their trust in us, and we are committed to exceptional safety processes and to building long-term value for all. We also thank Worley for their support of our business and look forward to continuing to work with them in the future. We are excited to build upon our quality service, which is our key differentiator, and see excellent opportunities for growth ahead."

CAM Industrial Solutions is a portfolio company of an investor group led by Cross Rapids Capital LP ("Cross Rapids Capital"). Cross Rapids Capital is an operationally driven investment firm, focused on acquiring industrial and services companies in North America. Cross Rapids Capital Partner, Mr. Kyle Cruz, concluded, "We are thrilled to partner with the leadership team and employees of CAM Industrial Solutions to accelerate investment in the business and position it for growth."