CD&R’s BrandSafway to acquire AGF Access Group

Brand Industrial Services, Inc., dba BrandSafway, a portfolio company of Clayton, Dubilier & Rice (CD&R), has agreed to acquire AGF Access Group Inc. from Groupe AGF Inc.

Groupe AGF is backed by Fonds de solidarité FTQ and Investissement Québec.

Based in L’Assomption, Quebec, with two manufacturing sites in Canada and 24 branches across North America, AGF Access Group is focused on renting, selling and manufacturing vertical access products through its own branches and an independent dealer network.

The transaction is expected to close in early 2020. Financial terms were not disclosed.

Kennesaw, Georgia based BrandSafway is a leading provider of infrastructure services to industrial and commercial facilities on a global basis. The Company delivers scaffolding and other work access solutions, forming and shoring equipment, and numerous specialty industrial services to more than 30,000 customers in more than 30 countries worldwide.

BrandSafway is majority (90%) owned by Clayton, Dubilier & Rice. In September 2019, CD&R agreed to sell half of its stake to Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN) for US $1.3 billion. The Brookfield transaction is expected to close in Q1 2020.

photo credit: Groupe AGF

News Release

BrandSafway announces agreement to acquire AGF Access Group, Inc.
Strengthening BrandSafway’s position as the premier vertical access solutions provider with enhanced product range, expertise and manufacturing capabilities

Kennesaw, Georgia, USA, Jan. 09, 2020 (GLOBE NEWSWIRE) — BrandSafway has signed an agreement to acquire AGF Access Group, Inc., headquartered in L’Assomption, Quebec, with two manufacturing sites in Canada and 24 branches across North America. Focused on renting, selling and manufacturing vertical access products through its own branches and an independent dealer network, AGF Access Group provides turnkey solutions for both small-scale as well as multibillion-dollar commercial construction and refurbishment projects.

“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.”

AGF Access Group includes four divisions, two world-class product groups – Hydro Mobile and Winsafe – and two successful rental units – AGF Access, which includes recent acquisitions IEQ, Jamco Construction and Noxxent, and Hydro Rents.

“We’re thrilled to be joining the BrandSafway team,” said Vincent Dequoy, president of AGF Group. “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.”

The closing of this transaction is anticipated in early 2020.

About BrandSafway

With a commitment to safety as its foremost value, BrandSafway provides the broadest range of solutions with the greatest depth of expertise to the industrial, commercial and infrastructure markets. Through a network of 330 strategic locations across 30 countries and more than 38,000 employees, BrandSafway delivers a full range of forming, shoring, scaffolding, work access and industrial service solutions. BrandSafway supports maintenance and refurbishment projects as well as new construction and expansion plans with unmatched service from expert local labor and management. Today’s BrandSafway is At Work For You™ — leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. For more information about BrandSafway, visit www.brandsafway.com.

# # #

Karla Cuculi
BrandSafway
262-523-6580
KCuculi@BrandSafway.com