Fullerton Rope Services Company SoldMonday, July 29, 2013
Global Ascent Inc., a rope-access services firm in Fullerton, has been acquired by Alvin, Texas-based Team Inc. on undisclosed terms.
Global Ascent, which has annual revenue of about $6 million, provides rope services for workers involved in inspection and maintenance of buildings, construction projects and lighting installation, among others. Its services are used primarily for the energy and industrial sectors.
No changes are expected for Global Ascent’s current management team, headed by President Gareth Ashworth. The company will operate within Team’s inspection and heat treating business group.
Team provides specialty maintenance and inspection services, primarily in high-temperature and high-pressure piping systems in heavy industries. Shares of publicly listed Team dipped Friday morning but traded about flat toward the close, at a market value of $819 million. Team had about $623.7 million in revenue last year.