PSC

PSC AND HYDROCHEM ANNOUNCE AGREEMENT TO COMBINE COMPANIES Houston, Texas – August 21, 2017 – PSC, a portfolio company of Littlejohn & Co. LLC, and Aquilex Holdings, LLC, owner of HydroChem and a portfolio company of Centerbridge Partners, L.P., today announced they have signed a purchase agreement whereby PSC will acquire all of the outstanding ownership interests of Aquilex, combining both PSC and HydroChem to create the premier industrial cleaning and environmental services company in North America. The combined company will be led by executives from both organizations: Gary Noto, HydroChem’s current CEO, will serve as the company’s Vice Chairman and a member of the board; and Brad Clark, CEO of PSC, will serve as its CEO and President, and will also join the board. “This combination will provide our customers with the safest and most efficient operational experience, and ensure our employees receive the most comprehensive training and career development opportunities,” said Mr. Clark. “PSC and HydroChem both share rich histories, a strong commitment to our people and deep values that promote safety, craft apprenticeship and collaboration.”