PE-backed Applied-Cleveland acquires STS’s inspection business


Applied-Cleveland, a portfolio company of First Reserve, has acquired STS Consulting Services‘ inspection business. No financial terms were disclosed.

PRESS RELEASE

CLEVELAND, Okla. and LONGVIEW, Texas, Sept. 13, 2018 /PRNewswire/ — Applied-Cleveland Holdings, Inc. (“Applied-Cleveland”), a leading provider of inspection and integrity management services for energy infrastructure assets in North America, today announced that it has completed the acquisition of the Inspection Business of STS Consulting Services, LLC (“STS”). Applied-Cleveland is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy.

STS provides third party inspection and integrity maintenance services for midstream customers across North America, employing a range of inspection professionals with extensive classifications including API 1169, 510, 570 Pressure Vessel Consultant, API 610, 620 653 Tank Consultant, Chief and Civil Consultant, Environmental Consultant, NDT Auditor (Level I, II III) and Safety Manager among others. In addition to its core offering of third party inspection services, STS also provides process safety management and risk management plan services, assistance in developing HS&E programs for customers, quality assessment and quality control to mitigate any issues on a project site as well as provide comprehensive compliance documentation and manuals for midstream operators.

Randy Byers and Matt Cheney, Chairman & CEO and President of Applied-Cleveland, respectively, stated, “STS’s core offering of third party inspection to the midstream industry and its commitment to safety and integrity closely mirrors that of our whole organization. We are excited to continue to grow our company on the heels of two additional acquisitions announced earlier this year, and we are pleased to be able to continue offering experienced, highly qualified inspection services to a wide variety of end markets. We are joined by our entire employee base in welcoming STS’s employees to the family and look forward to continuing to serve STS’s loyal customers.”

Financial details of the transaction were not disclosed.

About Applied-Cleveland
Applied-Cleveland Holdings, Inc. is a leading provider of third party inspection, integrity management, environmental, survey, qualification testing and NDE auditing services for pipeline and related facilities infrastructure in transmission, gathering, utility, LDC, storage and downstream markets. We provide the most experienced, qualified, and highest integrity technical and project management resources in the industry. Supplying timely, high quality, cost effective services in the safest manner is our top priority. We are providing services to over 100 active clients which includes supplemental training and DOT compliant operator qualification. For more information, please visit www.applied-cleveland.com.

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.