Aegion Corp. Becomes a Private Company

Aegion Corp., a leading provider of infrastructure maintenance, rehabilitation and protection solutions, announced the successful completion of the previously announced transaction under which affiliates of New Mountain Capital LLC acquired all outstanding shares of Aegion for $30 per share in cash.

As a result of the transaction, Aegion has become a private company and its common stock will no longer be listed for trading on the Nasdaq stock market. Robert (Rob) M. Tullman has been appointed president and CEO of Aegion Corp., effective May 18, following the planned retirement of outgoing president and CEO Charles R. Gordon.

“The completion of this transaction represents the exciting first step in advancing Aegion’s compelling near- and long-term growth prospects as an industry leader and a protector of communities and the environment,” Tullman said. “I look forward to working with the dedicated teams as we leverage our differentiated portfolio of technologies and delivering transformational solutions to maintain, rehabilitate and protect critical infrastructure around the world.”

Tullman, joined New Mountain in 2020 and is the former president and CEO of USIC. Prior to USIC,  Tullman served as president and CEO of Granite Services, a GE subsidiary with 6,000 global employees that provided field-based repair/maintenance services for the electric power generation and oil and gas industries. Tullman has a degree in chemical engineering from the University of Delaware and an MBA from Duke’s Fuqua School of Business. He is based in Tampa, Florida.

Centerview Partners LLC served as exclusive financial advisor to Aegion, and Shearman & Sterling LLP served as legal counsel. Jefferies and Houlihan Lokey served as financial advisors to New Mountain Capital LLP, and Ropes & Gray served as legal counsel.