Alliance Source Testing, a portfolio company of Align Capital Partners, has completed its third add-on acquisition with the purchase of Air Pollution Testing (APT).
APT provides source emission testing (stack testing) and oil and gas laboratory services to customers in the Western US. The company has eight test teams that are each equipped with a mobile analytical trailer outfitted with state-of-the-art sampling equipment including integrated stack gas sampling trains, real-time gas analyzers, mercury analyzers, gas chromatographs, and infrared analyzers. The company was founded in 1993 and has offices in Denver, Salt Lake City and Anchorage (www.airtest.net).
Alliance Source Testing 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. The company services customers’ facilities on a repeated basis, with the frequency determined by regulations for each industry. Alliance’ customers are active in a range of industries including asphalt production; automotive manufacturing; cement production; chemical manufacturing; fiberglass; food & beverage; and iron & steel foundry. The company, led by CEO Chris LeMay, has operations centers in Decatur, AL (headquarters); Little Rock, AR; Pittsburgh, PA; West Chester, PA; and Tyler, TX (www.stacktest.com).
“The APT team is a great complement to our expanding national platform,” said Mr. LeMay. “The opportunity to partner with their experienced test teams to deepen customer relationships with greater proximity to additional customer facilities is a big win.” Together, Alliance and APT now have a national footprint of ten offices across Alabama, Alaska, Arkansas, Colorado, Iowa, Pennsylvania, Texas and Utah.
Align is actively growing Alliance, which it acquired in October 2016, into a national stack testing platform. The buy of APT allows Alliance to enter two new markets in the West, while bolstering its current team in Utah. Following the integration of APT, Alliance will continue to seek add-on acquisitions. “We’re encouraged by what we’re building with Alliance and continue to find compelling opportunities in the attractive stack testing space,” said Align Managing Partner Rob Langley.
The two earlier add-on acquisitions of Alliance were the April 2017 buy of Golden Specialty, a provider of source emission testing services and lab services to industrial facilities in the Western US. The company has offices in Houston, TX; Cedar Rapids, IA; Bellingham, WA; and Salt Lake City, UT; and, prior to Align acquiring Alliance, the May 2015 buy of Air Sampling Associates, a Lewisville, TX-based provider of stack testing services throughout Texas, Oklahoma, and the Southwestern US.
Align Capital Partners makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include specialty manufacturing, distribution and business services. The firm 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 (www.aligncp.com).
In September 2016, Align held a first and final close of its inaugural private equity investment fund at its hard cap of $325 million.
© 2018 Private Equity Professional | April 2, 2018
