Add-on Acquisition • Energy Services and Equipment

Mistras Acquires Onstream Pipeline Inspection

On December 20, 2018, Mistras acquired energy services and equipment company Onstream Pipeline Inspection from Novacap

Acquisition Context
  • This is Mistras’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Mistras’ 1st transaction in Canada.
  • This is Mistras’ 1st transaction in Alberta.

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M&A Deal Summary

Date December 20, 2018
Target Onstream Pipeline Inspection
Sector Energy Services and Equipment
Buyer(s) Mistras
Sellers(s) Novacap
Deal Type Add-on Acquisition

Target Company

Onstream Pipeline Inspection

Calgary, Alberta, Canada
Onstream Pipeline Inspection provides pipeline inspection results to oil & gas producers and pipeline operators working in the North American marketplace, with a focus on continual technological and software advancement. Onstream Pipeline Inspection was founded in 2005 and is based in Calgary, Alberta.
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Buyer Overview 1

Buyer

Mistras

Princeton Junction, New Jersey, United States

Category Company
Founded 1978
Sector Business Services
Employees4,800
Revenue 730M USD (2024)
DESCRIPTION

Mistras is a provider of technology-enabled asset protection solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. Mission critical services and solutions are delivered globally and provide customers with asset life extension, improved productivity and profitability, compliance with government safety and environmental regulations, and enhanced risk management operational decisions. Mistras was founded in 1978 and is based in Princeton Junction, New Jersey.


Deal Context for Buyer #
Overall 8 of 8
Sector: Energy Services and Equipment 2 of 2
Type: Add-on Acquisition 8 of 8
State: Alberta 1 of 1
Country: Canada 1 of 1
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-28 The NACHER

Youngsville, Louisiana, United States

The NACHER Corporation provides comprehensive turnkey maintenance & inspection services to the oil, gas and petrochemical industry, primarily on offshore platforms.

Buy -

Seller Profile 1

SELLER

Novacap

Brossard, Quebec, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 8.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.


Deal Context for Seller #
Overall 13 of 30
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 6 of 13
State: Alberta 1 of 2
Country: Canada 9 of 19
Year: 2018 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Plusgrade

Montreal, Quebec, Canada

Plusgrade provides revenue solutions to airline, hospitality, cruise, passenger rail, and financial services companies. Plusgrade was founded in 2009 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 Firmex

Toronto, Ontario, France

Firmex is a virtual data room provider that has helped to drive the virtual data room marketplace with its SaaS secure document sharing platform to global financial institutions, law firms, and governments. Firmex’s secure and intuitive SaaS solution allows for the sharing of large volumes of confidential documents and mission-critical undertakings, including financial transactions, litigation, and compliance across a range of industries. Firmex was founded in 2006 and is based in Toronto, Ontario.

Sell -