Commercial Services and Supplies
Company Overview of Aquilex Holdings LLC
Aquilex Holdings LLC provides maintenance, repair, overhaul, and industrial cleaning solutions to the energy industry in the United States and Europe. It operates in two segments, Specialty Repair and Overhaul (SRO), and Industrial Cleaning. The SRO segment offers welding repair, erosion and corrosion protection, and specialized construction services, including component repair. It develops automated equipment for specialty repair and overhaul services, such as remote extraction, welding, and inspection systems. This segments also provides field services comprising structural overlay, orbital welding, heat exchanger repair, and specialized nuclear welding services to nuclear power plants wit...
3344 Peachtree Road NE
Atlanta, GA 30326
Key Executives for Aquilex Holdings LLC
Chief Financial Officer and Senior Vice President
Equipment Division President
Chief Technology Officer and Senior Vice President of International
Senior Vice President of Human Resources
Compensation as of Fiscal Year 2012.
Aquilex Holdings LLC Key Developments
Aquilex Holdings LLC Announces Executive Changes
Feb 8 12
Bill Varner has announced his retirement as Aquilex Holdings LLC's President and Chief Executive Officer. In connection with the restructuring, Aquilex has announced the appointment of Donovan Boyd as Chairman of the Board of Directors of the company. Boyd previously served as the Chairman and Chief Executive Officer of HydroChem Industrial Services, which was acquired by Aquilex in 2007 and currently constitutes the company's Industrial Cleaning Division. Boyd currently serves on the Boards of Directors of Brand Energy and Infrastructure and B&G Crane Service. Rothschild is acting as financial advisor and investment banker and Richards, Layton and Finger is acting as legal advisor to Aquilex in connection with the restructuring. Alvarez and Marsal is acting as restructuring advisor to the company. Kirkland and Ellis is acting as legal advisor to Centerbridge in connection with the restructuring.
Aquilex Holdings LLC Reports Consolidated Revenue Results for the Third Quarter of 2011
Nov 16 11
Aquilex Holdings LLC reported consolidated revenue results for the third quarter of 2011. Consolidated revenues decreased $9.6 million or 8.6% for the three months ended September 30, 2011, as compared to the prior year comparative quarter.
Aquilex Holdings LLC Amends its Credit Facilities
Nov 16 11
Aquilex Holdings LLC announced that it has reached an agreement for $15 million in incremental debt financing from a group of senior noteholders led by affiliates of Centerbridge Partners, L.P. This investment, which is expected to close and be fully funded, increases the company's liquidity to $33.5 million when coupled with its existing cash on hand of $18.5 million, as of November 14, 2011. The additional liquidity, which is being provided pursuant to a second-lien senior secured credit facility, will help ensure that Aquilex's operations continue in the normal course while the company continues to engage in constructive negotiations with lenders and senior noteholders regarding a consensual balance sheet restructuring.
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