Inspection Oilfield Services, a portfolio company of Calvert Street Capital Partners, has acquired Oilfield Tubular Inspection. Calvert Street first invested in Inspection Oilfield Services in January 2011.
Oilfield Tubular Inspection (OTI) provides mobile, on-site inspection, testing and cleaning services of oil country tubular goods and drill tools. The company is based in Woodward, OK (no website found).
Inspection Oilfield Services (IOS) 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 is based in Houston, TX (www.iosinspection.com).
“The acquisition of OTI represents another highly strategic addition to the IOS platform, deepening our presence and service offerings in the Mid Continent region and, more generally, further diversifying the company’s capabilities, customer base and growth opportunities,” said Brian Guerin, Partner at Calvert Street.
Calvert Street makes control investments in niche manufacturing and business services companies that have a minimum of $5 million of EBITDA and are located in the US or Canada. The firm is based in Baltimore (www.cscp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-22-13