Alliance Source buys Golden Specialty’s stack testing unit

Alliance Source Testing LLC, a portfolio company of Align Capital Partners, has acquired stack testing operations of Golden Specialty Inc. Financial terms weren’t announced. Golden, of Friendswood, Texas, provides source emission (or stack) testing services to industrial facilities in the western U.S.

PRESS RELEASE
April 24, 2017 – Align Capital Partners’ (“Align”) platform company Alliance Source Testing, LLC (“AST”) has acquired the stack testing operations of Golden Specialty, Inc. (“Golden”). Golden provides source emission (or stack) testing services to industrial facilities in the western U.S. through offices in Houston, TX, Cedar Rapids, IA, Bellingham, WA and Salt Lake City, UT.
Partnering with AST will allow the combined company to deepen customer relationships through greater proximity to existing and newly served customer facilities. Together, AST and Golden have a strong national footprint of nine offices across Alabama, Arkansas, Texas, Pennsylvania, Utah, Washington and Iowa, with attractive geographic density in key regions and the technical expertise to serve a diverse range of end markets.
Scott Swiggard, CEO of Golden said, “We are happy to partner with AST to divest the stack testing portion of our business. They are a well-run, focused stack testing business that will serve our customers well. We will continue to offer lab services under the name Golden Specialty and look forward to a renewed focus on that business.”
AST CEO Chris LeMay noted, “We are excited to add the highly qualified and diverse field staff from Golden Specialty to our team. The complementary geographies they serve will allow us to more completely serve our combined customers on a national basis.”
This is AST’s first add-on acquisition since it partnered with Align in October 2016. Align Managing Partner Rob Langley said, “The Align team looks forward to a sustained partnership with AST and will continue to invest in its growth.”
About Alliance Source Testing
Headquartered in Decatur, AL, AST is a leading provider of source emissions testing solutions to customers throughout the United States. With expertise in a variety of test methods, AST is uniquely qualified to provide customers with the highest quality and most cost-effective source testing solutions available. For more information, please visit www.stacktest.com.
About Align Capital Partners
Headquartered in Cleveland and Dallas, Align is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. Align brings experience, resources and a $325 million committed fund to help companies accelerate their growth, to the benefit of management, employees and the firm’s investors. Align makes control investments in growth oriented, lower-middle market specialty manufacturing, distribution and business services companies. The firm’s founders have extensive experience with these types of businesses, collectively having completed more than 80 investments representing more than $5 billion of enterprise value since 2000. For more information, please visit www.aligncp.com.