Applied-Cleveland, a portfolio company of First Reserve, has acquired the Inspection Business of STS Consulting Services. First Reserve acquired Applied-Cleveland in September 2016 from Nautic Partners.
The Inspection Business of STS provides third-party inspection and integrity maintenance services for midstream oil and gas customers across North America. In addition to its third party inspection services, the business also provides safety and risk management plan services, assistance in developing health, safety and environment (HSE) programs for customers, site-based quality assessment and control, and compliance documentation and manuals for midstream operators. The webpage of the Inspection Business of STS is available HERE.
Applied-Cleveland is a provider of third-party inspection, integrity management, environmental, survey, qualification testing and non-destructive examination (NDE) auditing services for energy infrastructure assets in North America across a variety of energy end markets, including transmission, gathering and distribution. The company, led by Chairman and CEO Randy Byers and President Matt Cheney, is headquartered in Cleveland, OK (www.applied-cleveland.com).
“STS’s core offering of third-party inspection to the midstream industry and its commitment to safety and integrity closely mirrors that of our whole organization. We are excited to continue to grow our company on the heels of two additional acquisitions announced earlier this year, and we are pleased to be able to continue offering experienced, highly qualified inspection services to a wide variety of end markets,” said Mr. Byers.
In February 2018, Applied-Cleveland acquired Encompass Energy Services and Perennial Environmental Services. Encompass provides surveying services as well as drafting, geographic information systems, and right-of-way services primarily for oil & gas pipeline infrastructure across North America. The company is headquartered in The Woodlands, TX (www.encompassservices.com). Perennial is a provider of complex environmental permitting services to oil and gas operators. The company has offices in Houston and Austin (www.perennialenv.com).
STS Consulting Services, the seller of the Inspection Business, provides virtually every service needed to complete oil and gas infrastructure projects including engineering, project management, inspection, and other specialized services. The company was founded in 2007 and is headquartered in Longview, TX (www.ststx.com).
First Reserve invests in energy-related companies including those that are active in the resources, equipment and services, and midstream and downstream infrastructure sectors. Since its founding in 1983, the firm has completed more than 550 transactions (including platform investments and add-on acquisitions). First Reserve has offices in Houston, TX; Stamford, CT; and London, UK (www.firstreserve.com).
© 2018 Private Equity Professional | September 17, 2018