Anaheim disaster recovery company American Technologies Inc. said Tuesday it acquired East Coast restorer Mark 1 Restoration Service Inc. in what is the first-ever acquisition for the 31-year-old company.
The deal, purchase price undisclosed, brings into ATI’s fold three offices in Pennsylvania and New Jersey helping expand ATI’s presence there. Mark 1 is expected to retain its name, management and other staff.
“Mark 1’s reputation in the industry is one that we are proud to align ourselves with,” ATI President Jeff Moore said in a statement announcing the deal. “They are a powerhouse in their regions, which will only strengthen ATI’s geographic footprint so that we can better serve our national accounts.”
The purchase follows private equity firm TSG Consumer Partner’s investment into the ATI business in August, marking the first time the company brought on outside capital and the start of what are expected to be multiple acquisitions for ATI.
ATI founder Gary Moore had hinted at the Mark 1 deal when he spoke with the Business Journal in September after being honored by the OCBJ with an Excellence in Entrepreneurship award. At the time, Moore also said ATI had non-disclosure agreements with a couple other prospective acquisition targets.
