lab services

Southern Petroleum Laboratories (SPL), a provider of laboratory services to companies in the oil and gas industry and a portfolio company of Hastings Equity Partners, has acquired Caprock Laboratories.

Caprock provides hydrocarbon laboratory analysis and measurement services to oil and gas companies active in the Permian Basin (located in west Texas and eastern New Mexico). Services include water & waste water analysis; soil chemical analysis; corrosion analysis; gas chromatography; plant and field testing;  antifreeze analysis; and environmental analysis. The company is led by President Jim Pritchard. Caprock was founded in 1992 and is based in Midland, TX (www.caprocklab.com).

“We are very excited about being a part of SPL and look forward to being able to offer more services to our customers through their capabilities,” said Mr. Pritchard. “Being part of SPL – the industry’s leading independent measurement, analysis, allocations and reporting organization – will help us grow.”

SPL is a provider of laboratory analysis, measurement, and allocation services of hydrocarbon products for the oil and gas industry. The company was founded in  1945 by W.A. “Dubb” Frier and Edward Patterson. Today, SPL has 14 locations in Texas, Louisiana, Michigan, Colorado and Oklahoma and is headquartered in Houston (www.spl-inc.com).

“The acquisition of Caprock is a major milestone for SPL as we continue the growth of our business,” said Ian Milne, CEO of SPL. “Jim and Carol Pritchard and their team are an excellent fit with our organization. It’s an exciting time at SPL as we expand into a new geography by serving the Permian Basin.”

Hastings Equity Partners invests from $5 million to $15 million in niche manufacturing, distribution, and business services companies with EBITDAs from $2 million to $10 million. The firm is based in Waltham, MA (www.hastingsequity.com).

Co-investing in the transaction with Hastings were The Edgewater Funds (www.edgewaterfunds.com) and certain fund clients of Jordan/Zalaznick Advisers (www.jzpartners.com).

Locke Lord (www.lockelord.com) was the legal advisor to the shareholders of SPL.

© 2015 PEPD • Private Equity’s Leading News Magazine • 11-6-15

Evans Analytical Group, an independent laboratory network, and a portfolio company of Odyssey Investment Partners, has acquired Wildlife International, an analytical laboratory specializing is eco-toxicology and environmental fate testing services.

Wildlife International is an analytical laboratory specializing is critical and complex eco-toxicology and environmental fate testing services.  Wildlife performs tests to support the pesticide, industrial chemical, pharmaceutical and animal health industries.  The testing conducted at Wildlife’s facilities is in compliance with Good Laboratory Practices for its aquatic toxicology, avian toxicology, endocrine disruptor, histopathology support, plant/insect toxicology, environmental fate and biodegradation, and analytical chemistry analyses.  Wildlife is headquartered in Easton, MD, and has sales offices in The Netherlands and Japan (www.wildlifeinternational.com).

Evans Analytical Group (EAG) is a fully integrated, independent laboratory network. EAG’s Materials Characterization Division provides analytical services focused on surface analysis and materials characterization in support of high technology industries. The company’s Release to Production Division provides expert engineering service and support from chip tape-out to volume production in support of the electronics industry.  EAG’s AgroSciences and Environmental Testing division provides analytical chemistry, environmental fate, metabolism and eco-toxicology services for agrochemicals, industrial chemicals, pharmaceuticals and animal health products. EAG has an international network of laboratories and serves more than 5,500 customers worldwide. The company is based in Santa Clara, CA (www.eaglabs.com).

Odyssey Investment Partners is a middle-market private equity fund with more than $2 billion under management. Odyssey makes control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing, business, financial and healthcare services, aerospace products, and localized and route-based service businesses. The firm is headquartered in New York (www.odysseyinvestment.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-11-13