“The acquisitions of JC Inspection and Xxtreme represent important strategic additions to the Inspection Oilfield Services platform, further diversifying the company’s capabilities, customer base, and growth opportunities while adding significant scale,” said Brian Guerin of Calvert Street.
JC Inspection (JCI) is a provider of drill tool inspection and repair services. JCI was founded in 2001 and has more than 90 employees and maintains offices in Houston and Midland, TX (www.jcinspection.com).
Xxtreme is a provider of inspection, threading, repair and storage services for oil country tubular goods companies. The company was founded in 2003 and is based in Houston, TX (www.wolfpackenergy.com/xxtreme_companies).
“JCI and Xxtreme represent two very strong companies, both of whom we have known and admired for a number of years, and we are very excited to welcome them to the IOS team. With shared cultures focused on safety, quality, and customer service, both JCI and Xxtreme will greatly enhance IOS’s overall service offering, footprint and talent.”
Inspection Oilfield Services provides non-destructive testing, inspection, threading, storage, cleaning and repair services for tubular products and tools used in oil and gas drilling and production. The company has 28 fixed locations across Louisiana, Texas, New Mexico, Kansas, Nebraska, North Dakota, West Virginia, Pennsylvania, New York and Ohio, and significant mobile inspection operations. Inspection Oilfield Services is headquartered in Lafayette, LA (www.iosinspection.com).
Calvert Street makes control investments in niche manufacturing and business service companies that have a minimum of $5 million of EBITDA and are located in the US or Canada. The firm is based in Baltimore, MD (www.cscp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-18-13