NMS recaps Exo Group

NMS Capital has recapitalized Magnolia, Texas-based Exo Group, a provider of data and asset inspection and remediation services of steel infrastructure to clients.

NMS Capital has recapitalized Magnolia, Texas-based Exo Group, a provider of data and asset inspection and remediation services of steel infrastructure to clients. No financial terms were disclosed for the deal that was done in partnership with Exo founders and management.

PRESS RELEASE

New York, NY, July 14, 2020 – NMS Capital (“NMS”) announced today that it has partnered with Company founders and management in the recapitalization of Exo Group, LLC (“Exo” or the “Company”). Exo is a leading provider of data and analytics-driven asset inspection and remediation services of steel infrastructure to clients across multiple end-markets throughout North America. In connection with the transaction, NMS has made a substantial capital commitment to support the future growth of Exo. Exo’s founders and principal shareholders will all continue in their roles in this new partnership and remain significant shareholders post-close.

Founded in 2009 and headquartered in Magnolia, TX, Exo serves several of the largest utilities and many of the largest retailers with asset inspection, remediation, engineering and training services for steel infrastructure. The Company’s clients span the utility, renewable energy, area and commercial lighting, manufacturing, telecommunications and retail end-markets across the United States, Canada and Mexico. Through its Ex-Tend™ service offering, the Company offers a data-driven, full lifecycle asset management solution that integrates asset management tools and service expertise, prolonging the lifespan of clients’ infrastructure, maximizing ROI and improving safety.

“We are very excited to partner with NMS for our next phase of growth given their partnership approach and experience in the infrastructure and utility services industry,” said Zachary Oliphant, Exo’s President. “Exo has grown rapidly since we started the business in 2009 with a core mission to make infrastructure safe, and we look forward to continuing our growth trajectory by providing our clients with continued excellence in safety, customer service and quality with the support of our new financial partner.”

Kevin Jordan, NMS Co-Founder and Managing Partner remarked, “The Exo management team have built an incredible business founded on the principles of safety and integrity. NMS is very proud to be partners with the Exo organization going forward to further build upon their leadership position in the asset inspection and remediation services industry. Our investment in Exo is a continuation of NMS’ theme-based approach to identifying differentiated opportunities in targeted sectors. NMS evaluated a number of inspection services companies and believe that Exo’s management team and employees have built a truly outstanding company.”

Noel Jeon, NMS Managing Director added, “Exo is the industry leading asset inspection and remediation services provider for steel infrastructure. Their holistic, data-driven approach to asset lifecycle management is truly unique in the market, and the services they provide are mission-critical for the efficiency, quality and safety of their client’s infrastructure across multiple end-markets. We are excited to be Exo’s partner in this next stage of the Company’s chapter.”

The NMS deal team also included Michael Lehman and Jordan Shenker. Exo was advised by ADG Venture Group. NMS’ legal advisor was Greenberg Traurig.

About Exo:
Founded in 2009 and headquartered in Magnolia, TX, Exo provides asset inspection, remediation, engineering and training services for steel infrastructure to clients in the utility, renewable energy, area and commercial lighting, manufacturing, telecommunications and retail end-markets across the United States, Canada and Mexico. Through its Ex-Tend™ service offering, the Company offers a data-driven, full lifecycle asset management solution that integrates asset management tools and service expertise, prolonging the lifespan of clients’ infrastructure, maximizing ROI and improving safety. For additional information on Exo, please visit the company’s website at www.exoinc.com.

About NMS Capital:
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from Goldman Sachs’ Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS, please visit the firm’s website at www.nms-capital.com.