M&A Deal Summary

Acuren Acquires Premium Inspection & Testing

On November 19, 2021, Acuren acquired test/measurement equipment company Premium Inspection & Testing from Ninth Street Capital, Calvert Street Capital Partners and Patriot Capital

Acquisition Highlights
  • This is Acuren’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Acuren’s 2nd transaction in the United States.
  • This is Acuren’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2021-11-19
Target Premium Inspection & Testing
Sector Test/Measurement Equipment
Buyer(s) Acuren
Sellers(s) Ninth Street Capital
Calvert Street Capital Partners
Patriot Capital
Deal Type Add-on Acquisition

Target

Premium Inspection & Testing

Baton Rouge, Louisiana, United States
website
Premium Inspection & Testing is a premier provider of non-destructive testing and inspection services to midstream oil and gas companies as well as customers in the nuclear, civil infrastructure, and defense industries. Premium Inspection & Testing is based in Baton Rouge, Louisiana.

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Buyer(S) 1

Buyer

Acuren

Tomball, Texas, United States

website


Category Company
Founded 1974
Sector Test/Measurement Equipment
Employees5,100
DESCRIPTION

Acuren is a provider of non-destructive testing and related services to energy and industrial end markets in North America. Acuren serves over 8,000 individual customer sites through its 84 field offices in the United States, Canada, and the United Kingdom. Acuren was founded in 1974 and is based in Tomball, Texas.


DEAL STATS #
Overall 2 of 3
Sector (Test/Measurement Equipment) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Louisiana) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 M&M Engineering Associates

Leander, Texas, United States

M&M Engineering Associates, Inc. is a U.S. provider of field and lab engineering services to the power generation, pulp and paper, chemical, and manufacturing segments. Through its state-of-the-art integrity management, shutdown planning and failure analysis capabilities, M&M Engineering helps clients manage operational risk while reducing their overall cost of operation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-20 Alloyweld Inspection

Bensenville, Illinois, United States

Alloyweld Inspection provides non-destructive testing, welding, brazing, and metal finishing to critical industries. Alloyweld Inspection was founded in 1968 and is based in Bensenville, Illinois.

Buy -

Seller(S) 3

DESCRIPTION

Ninth Street Capital is a private investment firm focused on acquiring established, profitable lower middle-market companies with $5 to $50 million in revenue. Ninth Street is a generalist investor and seeks companies operating in fragmented sectors, with low cyclicality and external risk factors. Target investment situations include owners looking to retire or in need of liquidity, or owners in need of additional management and expertise and looking for a partner to pursue growth opportunities. Ninth Street Capital is based in Beachwood, Ohio.


DEAL STATS #
Overall 3 of 3
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Louisiana) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 O’Keefe

River Falls, Wisconsin, United States

O’Keefe, Inc. is a designer, manufacturer, and sells finely crafted commercial millwork products to general contractors, architects, and builders. O’Keefe, Inc. is based in River Falls, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-06 SwiftMotion

Berkeley, California, United States

SwiftMotion designs accurate ergonomic and safety risk assessment tools for enterprises and workers' compensation insurance providers. SwiftMotion's full-body motion capture systems along with the ability to capture loads handled in workplaces dramatically simplify the assessment process and drives effective interventions. SwiftMotion is based in Berkeley, California.

Buy -
SELLER

Calvert Street Capital Partners

Lutherville, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 526M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Calvert Street Capital Partners (CSCP) is a private equity firm that invests in mid-sized companies. CSCP will consider opportunities across the US with a preference for opportunities located in the Eastern US. The Firm generally targets investments in scalable niche manufacturing, industrial, and business service companies. CSCP looks to invest $15 to $50 million per transaction. CSCP will not invest in start-ups, early stage venture capital, real estate or in companies that develop rapidly changing technology. Calvert Street Capital Partners was formed in 1995 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 11 of 11
Sector (Test/Measurement Equipment) 2 of 2
Type (Add-on Acquisition) 7 of 7
State (Louisiana) 1 of 1
Country (United States) 10 of 10
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-17 Machine Specialties

Whitsett, North Carolina, United States

Machine Specialties is a manufacturer of high-precision components for customers in the aerospace and defense, medical, packaging, and industrial industries. With a vast array of CNC milling, turning, grinding, finishing, and assembly capabilities complemented by engineering and prototyping services, MSI can handle the smallest components going into satellite and medical applications to very large parts such as landing gear for military cargo planes. Machine Specialties was founded in 1969 and is based in Whitsett, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 Rowland

Pinellas Park, Florida, United States

Rowland is a provider of underground infrastructure services to municipal owners in West Central Florida. It has completed hundreds of millions of dollars worth of projects for governmental owners in the areas of manhole rehabilitation, lift station rehabilitation, sanitary sewer construction, storm sewer construction, water main construction, reclaimed water construction, concrete construction, road building, and emergency water and sewer repair. Rowland was formed in 1987 and is based in Pinellas Park, Florida.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $3 to $20 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 44 of 46
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 26 of 26
State (Louisiana) 1 of 1
Country (United States) 44 of 46
Year (2021) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Noel Technologies

Campbell, California, United States

Noel Technologies is a process development and fabrication services provider that supports the world’s top semiconductor integrated device manufacturers (IDMs), semiconductor original equipment manufacturers (OEMs), and fabless semiconductor companies. Noel Technologies was established in 1996 and is based in Campbell, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Alto Health Care Staffing

Dayton, Ohio, United States

Alto Health Care Staffing is a diversified healthcare staffing firm. Alto's three key business lines include providing clinical temporary staffing primarily for nursing homes and long-term care facilities on a per diem or short-term contract basis; travel nurses primarily to hospitals; and medical assistants to doctors' offices. Alto Health Care Staffing was founded in 2003 and is based in Dayton, Ohio.

Buy -