Aramsco, Inc. and Confluence Group LLC, the owner of the Bridgewater family of companies have formerly closed their transaction, according to a press release.
Both businesses are now owned by a common parent company which is owned by affiliates of AEA Investors through its Small Business Fund II (AEA), as well as members of the Aramsco and Bridgewater management teams. Both Aramsco and Bridgewater will continue to operate under their existing names and with their current management teams.
"We are thrilled to partner with Rob, Gordon and Dave Hanks, and welcome all Bridgewater employees, customers and partners to the Aramsco family,” says Richard Salerno, the CEO of the new organization. “While both organizations will continue to run independently, the transaction will allow us to provide additional solutions and services to the customers of both companies."
Adds Gordon Hanks, President of Confluence Group: "It was extremely important to find a company that values our unique approach to delivering exceptional customer service. The leadership team at Aramsco was aligned with us in our commitment to customer satisfaction. We are proud to be their partners and excited about the opportunities this transaction creates for our customers, partners and employees.”