BrandSafway to acquire AGF Access Group
By Lindsey Anderson08 January 2020
BrandSafway has signed an agreement to acquire AGF Access Group, ALH has learned. AGF Access Group includes four divisions: two product groups consisting of Hydro Mobile and Winsafe, and two rental divisions made up of AGF Access and Hydro Rents. AGF Access Group is located in L’Assomption, Quebec, Canada and has two manufacturing facilities and 24 branches across North America. The closing of the transaction is anticipated for early 2020.
“This is an exciting opportunity for us to partner with a leader in motorized access equipment, enabling us to grow our market presence in mast climbing, suspended access solutions, elevators and building maintenance units throughout North America,” said Dave Witsken, president of Energy and Industrial at BrandSafway. “With a dedicated team of engineers, a strong distribution network, world-class manufacturing and experienced leadership, AGF Access Group will bring great value to BrandSafway. As a combined entity, we will be able to provide an even wider range of access solutions.”
Vincent Dequoy, president of AGF Group, said, “We’re thrilled to be joining the BrandSafway team. We look forward to working together to leverage our complementary businesses for growth. AGF will be able to expand its mast climbing and suspended access business throughout North America and provide more services and products to existing customers as well. This is an exciting time for AGF, our employees and our customers.
“Our combined customers in North America will benefit from specialized knowledge in vertical access, a broader range of solutions and greater depth of expertise,” agreed Witsken. “Together, we can deliver custom and highly efficient access and scaffolding solutions for commercial, infrastructure and industrial projects.”
BrandSafway has made a number of acquisitions over the last two years, including its most recent in Nov. 2019 when it purchased Bowline Construction.
In September 2019, it was announced that Brookfield Business Partners partnered with Clayton, Dubilier & Rice to invest in BrandSafway - each company now owns approximately 45 percent of BrandSafway.
“BrandSafway has undergone a true transformation since our initial investment in 2013, growing from $3 billion in revenue focused primarily on industrial end-markets in North America to a leading global provider of specialty services for a wide range of infrastructure with more than $5 billion in revenue,” said Nate Sleeper, CD&R Partner. “We are excited to partner with Brookfield, who brings significant value to the Company through its extensive portfolio of infrastructure and real estate assets. BrandSafway has significant runway for growth, both organically and inorganically, and we look forward to supporting management in continuing to execute on their strategic vision for the business.”
Brand Energy & Infrastructure Services and Safway Group merged in 2017.