Align’s Air Testing Platform Closes Tenth Add-On

 Alliance Technical Group (ATQ), an environmental testing and compliance platform of Align Capital Partners, has acquired Air Quality Services.

Air Quality Services (AQS) provides air-related environmental services including source emissions testing, stack monitoring (also called CEMS for continuous emission monitoring systems), consulting and permitting, stack testing, ambient air monitoring, and air pollution dispersion modeling. AQS was founded in 1998 and is headquartered in Evansville, Indiana.

In May 2017, Alliance Technical Group (then Alliance Source Testing) was acquired by Align. The company provides its emissions testing services to industrial facilities for permitting and compliance in accordance with air-quality mandates from local, state and federal regulatory bodies. Alliance Technical services customers’ facilities on a repeated basis, with the frequency determined by regulations for each industry.

The buy of AQS is Alliance Technical’s tenth add-on since 2017 and the fourth add-on closed in 2021 including the February 2021 buy of Aeros Environmental; and the April 2021 buys of Emission Monitoring Service and the air testing and monitoring division of O’Brien & Gere.

Alliance Technical’s customers are active in a range of industries including asphalt production; automotive manufacturing; cement production; chemical manufacturing; fiberglass; food and beverage; and iron and steel foundry. The company, led by CEO Chris LeMay, has more than 700 employees and is headquartered near Huntsville in Decatur, Alabama with 17 additional facilities nationwide in New York, Utah, Colorado, Louisiana, Arkansas, Iowa, Alabama, Virginia, Pennsylvania (2), California (3) and Texas (4).

“Strategically AQS fits from both a geographic and service offering perspective for Alliance. In addition to adding experienced stack testing and ambient air monitoring professionals, we are entering the CEMS market which allows us to provide our customers with services they have been asking us to include in our offering,” said Mr. LeMay. “We will continue to look for opportunities to partner with high-quality companies and people, like the AQS team, making us stronger and better positioned to meet our customers’ air-related requests.”

“It’s been exciting to watch Alliance Technical’s growth over the last five years of our partnership,” said Rob Langley, a managing partner of Align. “Chris and his team make it a priority to continually enhance the company’s position, and now it’s an industry leader.”

Joining Mr. Langley on the ATQ transaction team are Operating Partner Dave Perotti, Principal Jack Parks, and Associate Chris Collins.

ACP makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include business services, technology, specialty manufacturing, distribution, and healthcare. ACP closed its second fund, Align Capital Partners Fund II LP, at its hard cap of $450 million in February 2020. Align was founded in 2016 by managing partners Steve Dyke, Robert Langley, and Chris Jones – all formerly of The Riverside Company – and has offices in Cleveland and Dallas.

© 2021 Private Equity Professional | May 13, 2021

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