Monthly Archives: December 2016

Edgewater Announces Sale of Southern Petroleum Laboratories

SPL Logo

Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce the recent sale of its portfolio company Southern Petroleum Laboratories (“SPL” or the “Company”). Headquartered in Houston, TX, SPL is the leading independent provider of outsourced hydrocarbon measurement, analysis and reporting services for oil and gas production in many of the top producing regions of the United States. With a 70-year history of consistent operational excellence, the Company is a trusted provider of laboratory, field and production allocation services and is a recognized brand name that is synonymous with service, quality and integrity of data. SPL was acquired by Industrial Growth Partners which is a private equity firm that invests in manufacturing and industrial services companies.

Edgewater acquired SPL in August 2014 alongside its co-investors JZ Capital Partners and Hastings Equity Partners. During the investment period, Edgewater and the board recruited a new CEO and completed two strategic acquisitions that expanded the Company’s presence in the Permian Basin. SPL performed well over the investment period despite a downturn in the U.S. energy markets.

Industrial Service Solutions Continues To Grow With Five Recent Acquisitions

iss logo

Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce that its portfolio company Industrial Service Solutions (“ISS” or the “Company”) recently added five businesses to its family of companies: Industrial Construction & Associates (“ICA”), WPS Industries (“WPS”), Buna Electric Motor Service (“BEMS”), PTI Industries (“PTI”) and Control Products of Louisiana (“CPL”). Each business provides specialty industrial services to its client base and has built a reputation of quality, responsiveness and superior technical expertise. These companies augment the ISS platform with additional products and services, talented personnel and physical assets in new geographies.

• ICA provides industrial services such as rigging, moving, industrial fabrication, construction and installation of equipment for customers in heavy manufacturing industries.

• WPS specializes in the fabrication, installation and a variety of other industrial services for air systems. WPS serves multiple industries, including paper, cement, wood products, power generation and petrochemical.

• BEMS repairs, distributes and warehouses electric motors and other rotating equipment primarily for the chemical, refining and pulp and paper industries.

• PTI provides a variety of testing, inspection and other related services that satisfy regulatory and reliability needs of the leading OEMs in the aviation/aircraft industry.

• CPL provides full service control system integration and process optimization for a variety of industrial applications and related equipment. CPL primarily serves customers in the food & beverage, chemical, refining, wood products, pulp and paper, water/wastewater and power generation industries.

ISS is building a national provider of industrial field services, repair and refurbishment of equipment found in most industrial and manufacturing facilities in North America. This market is extremely fragmented, making it difficult for major industrial companies to find a reliable single source of repair and maintenance services for mission critical equipment. Types of equipment in which ISS has particular expertise includes valves, actuators, motors, generators, pumps, compressors and boilers. The Company’s services are critical to the success of complex plant operations, the prevention of costly facility downtime and the reduction of safety hazards.

Since inception, ISS has completed twenty-six (26) acquisitions and is actively seeking to acquire companies that provide industrial field services, repair and refurbishment of equipment found in industrial and manufacturing facilities in North America.