Argus Monitoring, which was formed by Benford Capital, has acquired Sauls Seismic and Nomis. No financial terms were disclosed. Sauls Seismic is a provider of continuous seismic and environmental monitoring services while Nomis manufactures seismic monitoring equipment.
Benford Capital Partners Management, L.P. (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce it has formed Argus Monitoring Solutions Holdings, LLC (“Argus Monitoring”) to acquire Sauls Seismic, LLC (“Sauls Seismic”) and Nomis Seismographs, LLC (“Nomis” and collectively, the “Company”).
Sauls Seismic provides a broad range of outsourced continuous seismic and environmental monitoring services through a “hardware-as-a-service” business model, while Nomis manufactures seismic monitoring equipment. The Company’s equipment and services are relied upon by customers in the quarrying, construction/infrastructure, and mining sectors to comply with regulatory requirements, provide liability protection, and optimize performance. The existing management team, led by Jeff Taylor, Buck Hawkins, James Carter, and Brooke Andrews, will continue to lead the Company post-closing.
“The teams at Sauls and Nomis have outstanding track records for delivering high quality seismographs and critical monitoring services that help their clients optimize performance while ensuring compliance,” commented Brian Staff, a BCP Operating Partner focused on the Industrial Technology sector. “I look forward to working closely with the teams to continuously advance our capabilities in support of our clients’ growth and the industry’s evolving needs.”
Benford Capital and Argus Monitoring plan to invest additional resources into sales and marketing, customer service, and ancillary products and services to drive the Company’s organic growth. In addition, Argus Monitoring will pursue an M&A strategy targeting related test & measurement services and equipment companies.
Commenting on the new investment, Benford Capital Managing Director Edward Benford added, “We are thrilled to partner with the Sauls and Nomis teams to build a larger seismic and environmental monitoring services platform. This is BCP’s 6th Industrial Technology platform, and we look forward to leveraging our collective experience scaling successful companies like Sauls and being a value-added partner to this experienced team.”
ABOUT BENFORD CAPITAL PARTNERS
Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired 30 companies, including several add-on acquisitions, and currently owns 13 platform companies. Industry areas of focus include industrial technology, consumer products and food, B2B e-commerce, and agricultural products and services. For more information, please visit www.benfordcapital.com.