LOS ANGELES -- (BUSINESS WIRE) -- Industrial Capital Strategies is pleased to announce the acquisition of TesTex Inspection LLC by Applus+, a global inspection, testing and certification company. TesTex Inspection LLC is an inspection company specialized in the oil and gas industry with highly qualified personnel and presence in the growing field of shale gas. With sales exceeding $30 million, the TesTex Inspection LLC client portfolio includes some of the largest companies in the oil and gas industry currently representing some of the greatest advances in extracting unconventional oil in the country, in states like Texas, Louisiana and Oklahoma.
In the words of the Applus+ CEO Fernando Basabe, "The acquisition represents a turning point for Applus+’ presence in the U.S., a strategic market that is already the first in importance for our inspection, testing and certification business for the oil and gas industry."
Scooter Jackson, the Company’s General Manager, will continue to run the operations post acquisition.
“We are pleased to team TesTex Inspection LLC with Applus+, a quality acquirer that has the global reach and complementary capabilities to capitalize on TesTex Inspection LLC’s strong position in the midstream oil & gas markets,” said Chris Weyers, Managing Director of Industrial Capital Strategies, who, acting in the capacity of a registered agent of M&A Securities Group, Inc., served as TesTex Inspection LLC’s exclusive financial advisor. A related company, TesTex, Inc., of Pittsburgh, Pennsylvania, the world leader in provision of electromagnetic NDT equipment and services, will continue under its current ownership.
Applus+ is a global leader in testing, inspection and certification. Applus+ achieved a turnover of 1,470 million euros in 2012, employs 18,000 people and operates in 60 countries across five continents. The company is part of the portfolio companies of The Carlyle Group since 2007.
About Industrial Capital Strategies
Industrial Capital Strategies specializes in mergers and acquisitions in the Testing, Inspection and Certification (“TIC”) sector. The firm assists private middle-market companies, multinational corporations, and private equity groups alike with their business sales or corporate growth initiatives in the TIC industry.
All services involving securities are offered through M&A Securities Group, Inc., member FINRA/SiPC; 4151 North Mulberry Drive, Suite 235; Kansas City, MO 64116; 816.842.4660. M&A Securities Group and Industrial Capital Strategies are not affiliated entities.