Edgewater Announces Five Acquisitions of Testing Services Companies
Edgewater Growth Capital Partners III, L.P. is pleased to announce five acquisitions completed since mid 2012 which significantly expand its platform company Testing Services Holdings, LLC (“TSH”). Edgewater initially invested in TSH in 2011 to provide services and equipment which monitor and enhance employee workplace safety in environmentally sensitive conditions. With these recent acquisitions, TSH has expanded its geographic coverage, customer base and service offerings. The company serves a wide range of industries including chemical, manufacturing, construction, mining, oil and gas, healthcare and first responders to environmental catastrophes. In June 2012, TSH completed the acquisition of the laboratory business of White Environmental Consultants, Inc (“White”). White’s geographic coverage has increased TSH’s customer base in the growing and highly regulated oil and gas industry. The Argus Group, Inc. (“Argus”) was then acquired in July 2012 to provide TSH’s customers with equipment used in workplace safety monitoring. Argus sells, rents and services industrial hygiene and safety equipment including gas monitoring and measurement devices, respiratory and air control, industrial hygiene supplies and personal protective equipment. In November 2012, TSH added to Argus’s equipment rental and distribution business with the acquisition of TRS-Environmental (“TRS”).
In January 2013, TSH acquired Inalab, Inc. (“Inalab”) and Occupational Environmental Health Laboratory (“OEHL”). Both companies have customers who can be serviced out of existing TSH facilities which should create cost savings. Inalab and OEHL expand TSH’s customer base in Hawaii and Canada and provide access to potential customers in Japan and other parts of Asia. Testing Services Holdings is well positioned for continued growth both organically and through additional acquisitions. Market demand for TSH’s services and products should expand with the proliferation of additional regulations for workplace quality, safety, health and environmental (“QSHE”) standards both in the U.S. and internationally.