CAI Capital Partners has invested in CMT Engineering Laboratories, a Salt Lake City, Utah-based provider of civil and geotechnical engineering services, including land surveying, construction material testing and inspection. No financial terms were disclosed. CAI, a Canadian mid-market private equity firm, said CMT is the third investment of its sixth fund.
Vancouver, BC – September 30, 2020 – CAI Capital Partners (“CAI”) is pleased to announce that it has partnered with CMT Engineering Laboratories (“CMT” or the “Company”). CMT is a leading provider of civil and geotechnical engineering services including land surveying, construction material testing and inspection as well as other ancillary services. The Company is headquartered in Salt Lake City with twelve offices throughout Utah, Arizona, Idaho and Texas and serves 1,000+ customers across the construction, government, healthcare, education, and religion sectors.
CMT is led by President Doug Watson and has an experienced team of owner-managers who have retained a meaningful equity interest in the Company and will remain in their current roles.
“CAI has a long history of successfully partnering with companies just like ours,” said Mr. Watson. “my team and I believe that with CAI as our partner, CMT is exceptionally well-positioned to pursue our growth strategy while maintaining the customer-centric ethos that has always been CMT’s hallmark.”
“We are thrilled to be partnering with Doug and the team at CMT,” said Curtis Johansson, CAI Partner. “They have built a tremendous business and we look forward to leveraging our past experience in the industrial services segment to assist the team in furthering the goal of expanding the geographical footprint and service offering.”
CAI’s investment in CMT marks the third investment in its sixth fund and fits with CAI’s strategy of investing in and growing founder-owned businesses in the Canadian and US lower middle market.
About CMT Engineering Laboratories
Since 2003 CMT has provided full-service construction engineering management, consulting engineering, highway and structural inspections, testing, and analytical laboratory services to a full array of clients including educational, defense, commercial, and government industries and is committed to providing technically accurate, timely, and personalized services to create superior results for all customers.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian and US lower middle market. Over three decades, CAI has invested C$1.5 billion into companies across North America.
For additional information, please visit www.caifunds.com.