AMECO makes Ohio acquisition
By Belinda Smart10 May 2022
AMECO, the North American rental and site services business, has acquired Ohio-based rental company F&M MAFCO, a supplier of tools and equipment rental, sales with locations in the US, Canada and the UK. The terms of the acquisition were not disclosed.
AMECO said the combined companies would “solve construction and maintenance industry challenges by improving the availability of materials, creating onsite labour efficiencies, reducing project costs and enhancing safety and sustainability efforts.”
Company headquarters will remain in AMECO’s Greenville, South Carolina facility. F&M MAFCO will maintain a significant operations presence in its headquarter city of Cincinnati, Ohio.
According to Gary Bernardez, chief executive officer 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.”
Bernardez added, “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 labour efficiencies is a huge win for our clients.
Tim Fries, F&M MAFCO’s CEO, has been appointed Chief Growth Officer of both organisations and president of F&M MAFCO. He will report to Bernardez and be responsible for developing and implementing a long-term growth strategy, overseeing joint strategic planning, business development, marketing and client success initiatives while maintaining his role as president of F&M MAFCO.
AMECO was acquired in mid-2021 by One Equity Partners, a middle market private equity firm operating within the industrial, healthcare and technology sectors in North America and Europe. The acquisition resulted in a change of operational structure and strategy for AMECO.
Under the leadership of CEO Gary Bernardez, who also previously held the CEO position from 2001 to 2012, AMECO’s strategy is to diversify further into the construction and maintenance contracting sector.
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