Edgewater Growth Capital Partners, III L.P. (“Edgewater”) is pleased to announce the sale of its portfolio company Testing Services Holdings Industries, Inc. (“TSHII”) to Geneva Switzerland based SGS, SA (“SGS”). TSHII is the holding company of Galson Laboratories, Inc. (“Galson” or the “Company”). Galson provides environmental health and safety testing services to manufacturing industries and for environmental clean-up projects in order to monitor workplace safety conditions. The Company is headquartered in Syracuse, NY with five strategically located services centers. SGS is a global leader in the Testing, Inspection and Certification industry and acquired Galson to reinforce its position in the U.S. while strengthening its industrial hygiene, health and safety capabilities globally.
Under Edgewater’s ownership, Galson accelerated its organic growth and made three acquisitions to expand its service offerings and geographic coverage. We want to acknowledge the outstanding leadership of the TSHII team for their work in leading the company’s profitable expansion.
Edgewater will continue to own Galson’s sister company TSH Distribution Industries, Inc. (“TSHD”), a company that distributes, rents and services instrumentation and personal protective equipment used in workplace safety. The TSHD team has already completed three acquisitions and is actively working on additional add-on opportunities.
Edgewater Announces Sale of Testing Services Holdings Industries (272 KB)
Industrial Service Solutions (“ISS”), a portfolio company of Edgewater Growth Capital Partners III, L.P. is pleased to announce that it has recently completed two acquisitions: Construction & Turnaround Services, Inc. (“CTS”) and Parts Services International LLC (“PSI”). Each of these companies will augment the ISS platform with additional products and services, talented personnel, and physical assets in new territories.
• CTS is based in Snyder, TX and provides plant inspection and maintenance services primarily for the oil & gas and chemical industries. The transaction was completed in May 2014.
• PSI is a distributor of compressed air aftermarket parts, filters, separators, dryers and other equipment via the internet. The transaction was completed in July 2014.
ISS was formed to execute a strategic build-up in the industrial repair, refurbishment and field services market. Equipment in which ISS has particular expertise includes valves, actuators, motors/generators, pumps and compressors among other categories that are critical to maintaining plant operations and minimizing downtime. Since inception, ISS completed eleven acquisitions and maintains over 20 service and distribution locations across the U.S. with over 500 skilled technicians. This combination of human and physical assets enables ISS to offer a broad and valuable set of solutions to its expansive customer base. The company maintains a robust pipeline of complementary companies that should continue the current pace of expansion and profitable growth.
Edgewater Platform Company Completes Two Acquisitions (85 KB)