Aquilex SRO provides maintenance, repair, and overhaul services to customers in the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries.
In early 2012 a group of senior noteholders participated in an out-of-court financial restructuring which materially reduced the company’s debt and added new growth capital to the business by way of a rights offering. Through that transaction, Centerbridge became the controlling shareholder of the company.
In August last year the firm acquired Cardinal Logistics Management as part of a recapitalisation, while in June it became the majority owner of waste and recycling equipment manufacturer Wastequip following another recapitalisation.
Earlier this year AltAssets reported that Centerbridge was interested in picking up more than 300 bank branches being sold by UK-backed lender the Royal Bank of Scotland.
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