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LVI Services Acquires Pyromax Inc., Fireproofing Specialty Firm in Northeastern U.S.

Posted on: Wednesday, 1 July 2009, 11:28 CDT

NEW YORK, July 1 /PRNewswire/ -- LVI Services Inc., the nation's largest environmental remediation and facility services firm with more than 30 offices across the country, announced today that it has acquired Pyromax Inc., a firm specializing in spray-applied coatings and insulations, primarily for fireproofing.

The acquisition of Pyromax, by LVI subsidiary LVI/Pyromax Inc., will expand LVI's core service offering in the northeastern U.S. to include complete fireproofing and re-fireproofing services. As a result of this transaction, LVI will be able to provide Northeast building owners and general contractors with an integrated fireproofing solution. When LVI, the #1 asbestos abatement contractor in the nation for 10 consecutive years, according to Engineering News-Record, removes asbestos-containing materials ("ACM") from buildings, new fireproofing materials must be applied to replace them. LVI also has a fireproofing operation that serves the West Coast.

"The Pyromax service offerings are highly complementary to LVI's business in the northeastern U.S., and the integration of the two organizations will give us a significant competitive advantage, especially on large jobs," said Bob McNamara, President and CEO of New York City-based LVI Services. "We understand that fireproofing is highly specialized and therefore it is better to enter the Northeast market via acquisition rather than a startup. Pyromax is a performance leader in this industry, and we look forward to its significant contributions to the continued success of LVI."

Pyromax President Allen Bessemer Jr. will remain with the company and continue to run the fireproofing operation. With more than 15 years in business, the Wall, N.J.-based Pyromax has performed over 500 fireproofing jobs in the Northeast, particularly in New Jersey and New York State, with growth opportunities from Boston to the Washington, D.C./Maryland/Virginia markets. The company is a high-performance applicator of spray-applied materials, such as fireproofing, insulation and acoustic materials. The management of LVI/Pyromax, which will become a wholly owned subsidiary of LVI Services, has substantial experience working on small and large projects for schools and universities, healthcare facilities, office and industrial buildings, and hospitality locations.

"Spray-applied fire protection is a serious life safety issue and is the most important part of a steel structure," Bessemer said. "The fireproofing application industry is highly fragmented, but by joining forces with LVI, we will have broader geographic reach and be able to self-perform very large projects. Fire marshals and building inspectors know the importance of qualified, certified, experienced and conscientious contractors. We want clients to rely on the LVI/Pyromax team for fireproofing in new structures and re-fireproofing in renovated structures."

For more information about LVI/Pyromax's fireproofing services in the Northeast, call 732-528-6345.

About LVI Services

LVI Services Inc. is the United States' leading provider of a wide array of integrated facility services, including environmental remediation, demolition and related services for commercial, industrial, multi-family residential and governmental facilities. LVI focuses on projects involving asbestos, lead paint, mold, infection control, hazardous materials, emergency and disaster services, and demolition. Founded in 1986, LVI has more than 30 offices across the United States, is licensed in every state, and is experienced in responding to natural and manmade disasters around the world. The company's annual revenues exceed $300 million. For more information, visit www.lviservices.com.

About LVI/Pyromax Inc.

LVI/Pyromax is a high-performance applicator of spray applied materials, such as intumescent, cementitious and fiber fire protection; fire stopping, insulation and acoustic materials. Pyromax ensures that all materials are applied to meet the stringent requirements to protect the safety of all occupants in accordance with Underwriters Laboratories, Inc. design parameters. Management has provided quality applications of materials for over 15 years, on more than 500 projects. For more information, visit www.pyromax.net.

SOURCE LVI Services Inc.

Source: PR Newswire

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