Secondary Buyout • Test/Measurement Equipment

Morgan Stanley Capital Partners Acquires Alliance Technical Group

On July 20, 2021, private equity firm Morgan Stanley Capital Partners acquired test/measurement equipment company Alliance Technical Group from Align Capital Partners

Acquisition Context
  • This is Morgan Stanley Capital Partners’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Morgan Stanley Capital Partners’ 38th transaction in the United States.
  • This is Morgan Stanley Capital Partners’ 1st transaction in Alabama.
Investment Fate
  • Alliance Technical Group was sold to a financial buyer in 2026.

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M&A Deal Summary

Date July 20, 2021
Target Alliance Technical Group
Sector Test/Measurement Equipment
Buyer(s) Morgan Stanley Capital Partners
Sellers(s) Align Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
McGuireWoods (Legal)

Target Company

Alliance Technical Group

Decatur, Alabama, United States
Alliance Technical Group is a provider of air emissions testing and monitoring solutions to customers throughout the United States. With expertise in a variety of end markets, Alliance is focused on people, process, and technology to provide unparalleled response and service to assist customers with meeting their air compliance and risk reduction goals. Alliance Technical Group was formed in 2000 and is based in Decatur, Alabama.
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Buyer Overview 1

DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


Deal Context for Buyer #
Overall 41 of 52
Sector: Test/Measurement Equipment 1 of 1
Type: Secondary Buyout 13 of 20
State: Alabama 1 of 1
Country: United States 38 of 48
Year: 2021 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Access Cash

Toronto, Ontario, Canada

Access Cash is a Canadian independent service organization that manages the country’s second largest network of automated teller machines (ATMs). Access Cash is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-28 Uplight

Boulder, Colorado, United States

Uplight is a provider of energy management software, hardware, and services for consumers and utility companies. Uplight data analytics on more than 123 million homes creates new business opportunities for any product or service provider connected to the home. Today, this includes electric and gas utilities, and energy retailers. Built over more than a decade, the Tendril Platform delivers real-time, ever-evolving data about the home and how people use energy in it. These rich insights help our customers improve customer acquisition, increase engagement and orchestrate home energy experiences. Uplight was founded in 2004 and is based in Boulder, Colorado.

Sell -

Seller Profile 1

SELLER

Align Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Align Capital Partners is a private equity firm focused on growth-oriented companies with recurring products and services. Align will consider companies with $3 to $15 million of EBITDA headquartered in the US or Canada. Sectors of interest include aerospace, defense, medical products, energy services, business services, chemicals, packaging, building materials, transportation, utility products/services, niche manufacturing, and value-added distributors. Align Capital Partners was founded in 2016 and is based in Dallas, Texas.


Deal Context for Seller #
Overall 2 of 9
Sector: Test/Measurement Equipment 1 of 2
Type: Secondary Buyout 1 of 3
State: Alabama 1 of 1
Country: United States 2 of 9
Year: 2021 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 CompletePet

Miami, Florida, United States

CompletePet is a contract or outsourced manufacturing partner of custom-formulated, nutritional supplements as well as dermatological and grooming products for the animal health industry. CompletePet was founded in 2005 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 Electronic Transaction Consultants

Richardson, Texas, United States

Electronic Transaction Consultants is a technology solutions provider for the mobility and transportation industries. ETC's solutions process over 2 billion transactions annually, incorporating the latest in open-source machine learning and data streaming technology, with predictive Big Data analytics to offer innovative architectures comprising our riteSuite products. Electronic Transaction Consultants was founded in 1999 and is based in Richardson, Texas.

Sell $150M