ASRC Announces Industrial Services Aquisition

ASRC PRESS RELEASE 4/11/2018
 
Arctic Slope Regional Corporation ("ASRC") is pleased to announce the acquisition of F.D. Thomas, Inc. ("FDT") and FDT’s wholly-owned subsidiary D. Zelinsky & Sons ("DZ") by our wholly-owned subsidiary ASRC Industrial Services, LLC ("AIS").
 
Headquartered in Medford, Oregon, with satellite offices in Kent, Washington, Oakland and Sacramento, California, FDT is nationally recognized as a premier provider of waterproofing, roofing, infrastructure restoration, specialty painting and coatings services. FDT was founded by Dan Thomas in 1979. FDT services customers nationwide across multiple end markets, including: federal agencies, health care, higher education, transportation & infrastructure, sports & entertainment and new commercial construction. FDT will become a part of AIS’s Construction, Maintenance and Repair ("CMR") operating group.
 
DZ was founded in 1884 and is headquartered in Oakland, California. FDT acquired DZ in 2014. DZ provides commercial painting, wallcovering, faux finishes, waterproofing, fireproofing, high performance coatings, and SoftWalls™ upholstered wall and ceiling systems. DZ serves primarily commercial customers in the San Francisco Bay Area. DZ will join FDT as a member of AIS’s CMR operating group.
 
"On behalf of ASRC’s board of directors, I am pleased to welcome the talented employees of F.D. Thomas and D. Zelinsky to the ASRC family of companies," said Rex A. Rock Sr., president and CEO of ASRC. "The additions of F.D. Thomas and D. Zelinsky is further evidence of ASRC’s commitment to the AIS strategy that ASRC initiated in September 2016. I am pleased with the progression of the strategy to date, and I am confident that the teams at FD Thomas and D. Zelinsky will work collaboratively with the AIS team to deliver durable, enduring benefits for ASRC shareholders."
 
"The additions of F.D. Thomas and D. Zelinsky, respectively, are critical steps in pursuit of the AIS vision to build an enduring, customer-centric, value-added service provider focused on the industrial market complex," said Greg Johnson, president and CEO of AIS. "I look forward to working with the teams at FDT and DZ to identify ways to provide expanded solutions to current, as well as prospective customers, while also providing additional development opportunities for the talented workforces of both companies."
 
"ASRC’s unique approach and commitment to the industrial services market was the differentiator for me when deciding on the right long-term home for FDT and DZ," said Dan Thomas, president and founder of FDT. "Working side by side with the AIS team through the diligence process has me excited about the future. I am eager to join AIS leadership in pursuit of the AIS strategy, in the process providing additional opportunities for our employees, increased services to current and future customers and ultimately meaningful financial returns to ASRC shareholders."

 

About AIS
Headquartered in Concord, California, ASRC Industrial Services is a wholly-owned subsidiary of Arctic Slope Regional Corporation. AIS is organized into three capabilities-based operating groups: Construction, Maintenance and Repair, Remediation and Response Services, and Environmental Engineering and Professional Services. AIS has over 1,850 employees and operations throughout the Continental United States. AIS subsidiaries include Petrochem, RSI Entech., DACA Specialty Services, US Coatings, AIS Response Services and D2 Industrial Services. As a wholly-owned subsidiary of ASRC, AIS and its subsidiaries are considered minority business enterprises. To learn more about AIS, visit www.asrcindustrial.com.

 

About ASRC

Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 13,000 today. Corporate headquarters are based in Utqiaġvik (Barrow), Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 12,000 people worldwide. The company has six major business segments: petroleum refining and marketing, energy support services, industrial services, construction, government services and resource development.

PO BOX 129 BARROW AK 99723 (907) 852-8633