AMECO, a leading provider of construction and maintenance Site Services planning and delivery, announced today that it has acquired F&M Mafco, an international supplier of tools and equipment rental, sales and service programs. The synergies between both companies will solve construction and maintenance industry challenges by improving the availability of materials, creating onsite labor efficiencies, reducing project costs and enhancing safety and sustainability efforts.
Company headquarters will remain in AMECO’s Greenville, S.C., facility. F&M Mafco will maintain a significant operations presence in Cincinnati.
“The transformational combination of these two great brands and teams creates a comprehensive Site Services offering that is truly unprecedented in our industry,” said Gary Bernardez, CEO of AMECO. “Our combined strengths enable us to expand the boundaries in providing innovative site solutions to our clients on capital construction, facility operations and maintenance projects across a greater geographical reach. This is a game-changer."
Tim Fries, F&M Mafco CEO, was named chief growth officer of both organizations and president of F&M Mafco. He will report directly to Bernardez and be responsible for developing and implementing a long-term growth strategy that fully leverages the synergies of both businesses to drive comprehensive solutions to clients. Fries will oversee all joint strategic planning, business development, marketing and client success initiatives while maintaining his role as president of F&M MAFCO.
Fries said, "I am very excited about the growth potential that a combined AMECO and F&M Mafco product and services offering can have on our businesses. Both companies have great brand recognition and reputations in the marketplace. More importantly, we share common core values and company cultures, which will be a key ingredient in delivering exceptional service to clients and securing our future success.”
“In today’s business environment, the ability to deliver onsite solutions that provide cost certainty, reduce redundancy of sitewide services, enhance site ESG and sustainability programs, increase uptime and improve labor efficiencies is a huge win for our clients,” added Bernardez. “Together, AMECO and F&M Mafco will deliver unmatched levels of innovation, efficiency and value across multiple industries. We make a powerful team.”
AMECO is a portfolio company of One Equity Partners, a middle market private equity firm focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe.
Both companies are listed on the RER 100. On last year’s listing, AMECO was No. 38 and F&M Mafco was No. 49. Both will be listed prominently on the soon-to-be-released 2022 listing.
For a more in-depth understanding of AMECO, please visit: https://www.rermag.com/news-analysis/media-gallery/21214256/carving-out-ameco