Category Archives: News

Testing Services Holdings, LLC acquires Shannon Optical Company, Inc. and Midwest Gas Instrument Service, Inc.

Edgewater Growth Capital Partners III, L.P. is pleased to announce that its portfolio company Testing Services Holdings, LLC (“TSH”) has recently completed the acquisitions of certain assets of Shannon Optical Company, Inc. (“Shannon Safety”) and Midwest Gas Instrument Service, Inc. (“Midwest Gas”). TSH is a strategic build-up of best-of-breed businesses in the health, safety and environmental protection industry (“HSE”). The acquisitions of Shannon Safety and Midwest Gas continue to advance TSH’s focused growth strategy through expanding its offerings of products, superior service and support to its customers.

Shannon Safety is headquartered in Bridgeville, PA and is a distributor of a full line of protective equipment including respiratory products and hand and face protective equipment. Midwest Gas is headquartered in Detroit, MI and operates as a distributor of gas measurement instruments and as a maintenance service provider. The acquisitions of Shannon Safety and Midwest Gas expand TSH’s customer base and increase cross-selling opportunities.

TSH is actively targeting acquisitions that will increase the breadth of services provided to TSH’s customer base and expand the regions in which the services are provided.

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.

AGC AeroComposites acquires North Coast Composites and North Coast Tool and Mold Corporation

AGC AeroComposites

Edgewater Growth Capital Partners III, L.P. is pleased to announce that its portfolio company Unitech Holdings, Inc. (d/b/a “AGC AeroComposites”) recently acquired North Coast Composites, Inc. and North Coast Tool and Mold Corporation (collectively “NCC”). AGC AeroComposites designs, develops and manufactures high performance parts and assemblies for the aerospace and defense industries. The acquisition of NCC marks the fourth acquisition for AGC AeroComposites and further expands AGC AeroComposites’ presence in the engine composites market segment.

North Coast Composites manufactures advanced composites for the aerospace industry using state-of-the-art fabrication of Resin Transfer Molded and Vacuum-Assisted Resin Transfer Molded components. Its partner company, North Coast Tool and Mold Corp., is a designer and manufacturer of quality molds and tools for the aerospace industry and provides innovative solutions including resin transfer molds, lay-up molds, compression molds and plastic injection molds.

AGC AeroComposites is building a global manufacturer of composites and complex metal assemblies for aircraft platforms and is seeking acquisitions that will expand its set of aerostructure capabilities and technologies.

Edgewater Portfolio Company Haystax Technology Named 2016 Red Herring Top 100 North America Winner

MCLEAN, Va., June 15, 2016 /PRNewswire-USNewswire/ — Haystax Technology, a leading provider of advanced cyber analytics and risk management solutions, has been named a 2016 Red Herring Top 100 North America winner. Since 1996, the Red Herring Top 100 North America forum has recognized private companies in technology or life sciences who are poised to grow at an explosive rate in the coming years.
“It’s an honor to be recognized with a prestigious award like the Red Herring 100 North America,” said Bryan Ware, chief executive officer of Haystax Technology. “The award validates our belief that delivering actionable INSIGHTs into complex risk and uncertainty that organizations face daily is indeed a great platform for growth.”

Companies eligible for the Red Herring 100 North America award are thoroughly vetted against a number of categories including market maturity, international footprint, growth rate, technological advantage, and team quality and experience, among other categories. The editorial team at Red Herring analyzes hundreds of companies and their Technologies, selecting the Top 100 poised for the most growth in the future. This year’s awards ceremony took place on June 8 at the Newport Beach Marriott Hotel & Spa.
“In 2016, selecting the top achievers was extremely difficult,” said Alex Vieux, publisher and CEO of Red Herring. “The variety, depth, disruption and traction we saw from the early stage companies to those with significant scale made it one of the toughest vintages to judge. The North America winners are representative of the amazing ecosystem that never ceaSES to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation.”

About Haystax Technology

Haystax Technology’s mission is to give decision-makers the advanced risk-management tools they need to prevent, protect against and respond to a wide array of threats to their most critical systems, facilities and people. Every day, some 50 million people and 100,000 critical infrastructure assets and key resources are protected by organizations using our technology, ranging from local and state agencies and major urban areas, to large commercial enterprises and top federal government agencies. For more information, visit www.haystax.com/technology or follow Haystax on Twitter @haystaxtech.