Aegion Announces Acquisition of Next Level Environmental

Rhea-AI Summary

Aegion Corporation has announced the acquisition of Next Level Environmental, a Boston-based company specializing in underground and vacuum excavation services. This strategic move allows Aegion's portfolio company, Insituform, to enhance its service offerings and secure new maintenance contracts in the New England market. Next Level's expertise and established East Coast relationships are expected to facilitate growth and provide a comprehensive trenchless solution for customers. Existing employees will continue to operate under the Insituform brand.

Positive

• Strategic acquisition of Next Level Environmental enhances Aegion's service offerings.
• Expansion into the New England market with a focus on turnkey trenchless services.
• Anticipated growth from maintaining new recurring maintenance contracts.

Negative

• None.

The North American Leader in Technology-Enabled Water Solutions Adds Key Infrastructure Services to its Growing Portfolio

ST. LOUIS, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Aegion Corporation, a leading provider of infrastructure maintenance, rehabilitation, and technology-enabled water solutions, today announced the acquisition of Next Level Environmental, a Boston-based company. Next Level Environmental assets and employees will now operate as part of Insituform, an Aegion portfolio company.

Since 2018 and prior to the acquisition, Next Level Environmental has provided underground and vacuum excavation services with an integrated approach to managing the challenges of aging infrastructure. The company was founded on the professional and technical expertise accumulated over a combined 20+ years by founders Alicia and Kevin David.

In addition to its strong East Coast relationships, the addition of the Next Level Environmental team and resources expands Aegion’s service offerings and enables Insituform to become a turnkey solution provider in the New England market.

“The strategic acquisition of Next Level Environmental's talent and resources will aid Insituform in securing new, recurring maintenance contracts for services that our company previously sub-contracted,” said Rob Tullman, President and CEO, Aegion. “We look forward to bringing these specialized services to our customers in partnership with a trusted company like Next Level.”

Next Level Environmental employees and facilities will remain in place operating under the Insituform name, and Aegion anticipates growth in the near term.

“This is an exciting day for ‘Team Next Level Environmental,’” said Kevin David, Vice President, Next Level Environmental. “Now, as part of Insituform—the pioneers of pipe lining—we will be able to offer quality, turnkey trenchless services from our highly trained teams. Combining our resources and industry experience, we will be able to quickly expand on services to support our customers' needs. There is massive growth in the trenchless market, and we are now positioned to be leading service providers throughout New England.”

About Aegion Corporation
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate, and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in rehabilitation solutions for aging infrastructure, primarily pipelines in the wastewater and potable water industries. Aegion is committed to Stronger. Safer. Infrastructure.^®

More information about Aegion can be found at www.aegion.com.

About Next Level Environmental
Next Level Environmental, LLC is a professional services firm located in Canton, Massachusetts. Founded in 2018, Next Level is built on the professional and technical expertise accumulated over a combined 20+ years by its founders. Aegion Corporation acquired Next Level Environmental in 2022.

For more information, contact:

Aegion Corporation
Beth Kerley | Vice President, Communications
bkerley@aegion.com

FAQ

What is the significance of Aegion's acquisition of Next Level Environmental?

The acquisition positions Aegion to enhance its service offerings and secure new maintenance contracts in the New England region.

When did Aegion Corporation acquire Next Level Environmental?

Aegion Corporation announced the acquisition of Next Level Environmental on August 23, 2022.

How will Next Level Environmental operate after the acquisition?

Next Level Environmental will continue to operate under the Insituform name and its employees and facilities will remain in place.

What services does Next Level Environmental provide?

Next Level Environmental specializes in underground and vacuum excavation services, contributing to the management of aging infrastructure.

What growth opportunities does Aegion anticipate following this acquisition?

Aegion expects growth through securing new contracts for maintenance services previously subcontracted, leveraging Next Level's expertise.