SAN ANTONIO, TX, February 3, 2021 - AXIS Industrial Holdings, Inc., a portfolio company of New Orleans-based private equity firm Carr’s Hill Capital Partners Management, LP (“Carr’s Hill”), recently completed its acquisition of San Antonio-based Travis Industries, LLC (“Travis”).
Spanning five generations since 1886, Travis Industries is a family-owned provider of specialty craft services to industrial customers throughout the U.S. Southwest region. With locations in San Antonio, Dallas/Ft. Worth and Midland, Texas, Travis specializes in painting & protective coating services for a diverse set of midstream, power generation, water & wastewater, manufacturing, and industrial customers. With minimal customer, end market, and geographic overlap, Travis’ combination with the existing AXIS Industrial Services, LLC (”AXIS”) operations will provide customers a full suite of critical services to support routine maintenance, turnarounds, and new-build projects.
“The addition of Travis Industries to AXIS’ existing footprint helps us further broaden our soft crafts capabilities, introduces us to new customers, and deepens our relationships in existing and adjacent markets,” said JT Maddox IV, President of AXIS. “We believe our customers will benefit tremendously from the partnership between AXIS and Travis.”
“Our goal at Travis Industries is to provide a wide range of capabilities delivered with best-in-class service,” said Carlton Catalani, President of Travis. “The combination of Travis and AXIS brings an exceptional team and relationships together that will help expand our presence in the critical industrial corridor along the Gulf Coast.”
H. David de Laureal, Founder and Managing Partner of Carr’s Hill, stated, “We are very excited about the important addition of Travis Industries to our multi-craft industrial services platform. JT and Carlton have built excellent businesses, both known for superior service, strong safety performance, and successful project execution. We will continue to rely on their leadership and are confident that our expanded capabilities will help us accelerate our growth and expand into new markets together.”
The acquisition of Travis Industries aligns with the Carr’s Hill mission of partnering with high-potential, entrepreneurial managers and providing them the capital and strategic resources to grow their businesses into market leaders. The AXIS multi-craft platform has grown rapidly since the initial acquisition in June 2020, experiencing over 65% organic revenue growth in 2020, and will continue to seek organic as well as M&A growth opportunities going forward. Travis is the third portfolio company of Carr’s Hill as the firm continues to partner with great teams and businesses throughout the lower middle-market industrial technology & services sector.
McGuireWoods LLP served as legal counsel to AXIS Industrial Holdings, Inc.
About Travis Industries, LLC
Spanning five generations since 1886, Travis Industries is a family-owned provider of specialty services to industrial customers throughout the U.S. Southwest region. With locations in San Antonio, Dallas/Ft. Worth and Midland, Texas, Travis is the top provider of industrial painting & protective coating, abrasive blasting & industrial cleaning, scaffolding, insulation, and intumescent fireproofing services in its core markets. For more information, visit: www.travis-industries.com
About AXIS Industrial Services, LLC
AXIS is a high-growth safety-oriented industrial contractor offering scaffolding, insulation, fireproofing, painting, abatement, and other services to the U.S. processing and manufacturing industries. With locations in Corpus Christi and Houston, Texas, AXIS currently operates at blue-chip customer sites throughout the U.S. Gulf Coast region, including petrochemical, specialty chemical, midstream, refinery, manufacturing, power generation, and other large process facilities. For more information, visit: www.axisindsvcs.com
About Carr's Hill Capital Partners Management LP
Carr's Hill is a lower middle-market private equity firm providing capital and expertise to industrial technology & services companies. Based in New Orleans, Louisiana, Carr's Hill invests throughout North America with a focus on the U.S. Gulf Coast region. The firm provides much more than capital, bringing operational resources to help its management partners develop into market leaders and create a foundation for exceptional growth.