BGL announces the recapitalization of AIMS Companies by Sterling Investment Partners

Cleveland-based Brown Gibbons Lang & Company (BGL) has announced the recapitalization of AIMS Companies by Sterling Investment Partners. Sterling is a Westport, Connecticut-based middle-market private equity firm focused on business services and distribution investments. BGL’s Environmental & Industrial Services Group served as the financial advisor to AIMS in the transaction. The specific terms of the transaction were not disclosed.

Headquartered in Scottsdale, Arizona, AIMS is a national provider of infrastructure inspection, maintenance and support services to the municipal, utility, industrial and energy end markets. The company’s complementary services, including pipe inspection and cleaning, hydroexcavation and vacuum and hydroblast cleaning, are critical to its customers’ ability to maintain operational workflow and regulatory compliance, the company says. AIMS operates 15 branches across the U.S., which are positioned in regions of high demand in the West, Southwest and Southeast.

“The BGL team clearly understands our industry and our company’s unique position in the market. Their client commitment and industry expertise were critical to us achieving our transaction goals. The partnership BGL helped us establish with Sterling Investment Partners will allow us to expedite the achievement [of] our growth plan,” Chris Mihaletos, founder and CEO of AIMS, says.

“The AIMS team has built an exceptional platform for infrastructure maintenance and inspection services,” BGL Director and Principal Michael Vinciguerra says. “With the backing of Sterling, we expect the company’s leadership position and growth trajectory will only be enhanced.”