Allied Power, a provider of power plant services and a portfolio company of Bernhard Capital, has acquired Radiation Safety & Control Services (RSCS).
RSCS provides project management, technical, and laboratory services to the nuclear power industry, government agencies, and other companies that use radioactive material. The company specializes in nuclear and radiological operations and decommissioning projects and also provides radiation monitoring products and laboratory services.
RSCS, founded in 1989 and led by Executive Director Jay Tarzia, has approximately 230 employees nationally and is headquartered in Seabrook, New Hampshire.
Allied Power is a provider of power plant services to the utility industry. The company’s services include routine maintenance, project management, valve repair, outage services, specialty engineering, reactor and turbine maintenance, capital construction, specialty welding and facility maintenance. Allied Power, led by CEO Ron McCall, is headquartered in Baton Rouge, Louisiana.
Bernhard Capital acquired Allied Power in November 2020 from publicly traded Charah Solutions (NYSE: CHRA) for $40 million in cash.
“We are thrilled to welcome such an established and well-respected team in the industry to the Allied family,” said Mr. McCall. “RSCS’s proprietary products and best-in-class monitoring and technician services will enable us to capitalize on new contract opportunities, enhance the on-site and supportive offerings we provide to our nuclear facility clients and maximize significant tailwinds in the decommissioning space. We look forward to working closely with the RSCS team and embarking on a new phase of growth together.”
“As the commercial nuclear energy market continues to play a pivotal, yet evolving, role – both domestically and internationally – in today’s clean energy landscape and transition, it will increasingly require specialized expertise and support,” said Mark Spender, a partner of Bernhard Capital. “This transaction further solidifies Allied as the provider of choice for safe, mission-critical and cost-effective power services for the leading power generators across the country.”
Bernhard Capital Partners is an energy services-focused private equity firm established in 2013 by Jim Bernhard and Jeff Jenkins. The firm has deployed capital through three funds and has approximately $2.5 billion of assets under management. Bernhard Capital is headquartered in Baton Rouge, Louisiana.
© 2022 Private Equity Professional | July 19, 2022
