ASRC Announces Acquisition of Mavo Systems

ASRC PRESS RELEASE 2/16/2018
 

Arctic Slope Regional Corporation ("ASRC") is pleased to announce the acquisition of Mavo Systems ("Mavo") by our wholly-owned subsidiary ASRC Industrial Services, LLC ("AIS").

Headquartered in White Bear Lake, Minnesota, Mavo was founded in 1982. The company is recognized as a premier environmental and specialty services contractor servicing multiple end-markets, including healthcare, industrial manufacturing, higher education and power generation. Specifically, Mavo provides asbestos, lead and mold abatement, demolition, insulation, emergency response and restoration services. The company serves customers across the upper Midwest from its headquarters in White Bear Lake as well as satellite offices in Minnesota, Wisconsin and North Dakota. Mavo will become the foundation of AIS’s Remediation and Response Services ("RRS") operating group.

"On behalf of ASRC’s board of directors, I am pleased to welcome the talented employees of Mavo Systems to the ASRC family of companies," said Rex A. Rock Sr., president and CEO of ASRC. "The acquisition of Mavo is another important step in pursuit of the AIS strategy that ASRC announced in September 2016. I am confident the team at Mavo will work collaboratively with the AIS team to deliver long-term value to ASRC shareholders."
 
"The management team and talented workforce at Mavo have worked together to differentiate themselves from their competitors, and earn their reputation as a customer-centric, value-added service provider," said Greg Johnson, president and CEO of AIS. "Mavo provides AIS a strong foundation within the RRS operating group, from which we will pursue our vision of building an enduring enterprise that is recognized as the premier value-added service provider focused on the industrial services complex."
 
"ASRC’s approach and commitment to the industrial services market is unique and is ultimately what convinced my partners and me that AIS was the right long-term home for Mavo," said Jay Robertson, president of Mavo. "The Mavo management team looks forward to working with AIS leadership to pursue the AIS strategy, thereby providing additional opportunities for our employees, additional 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.

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