CAI Capital-backed CMT Engineering acquires Cesare

CMT Engineering Laboratories has acquired Cesare, a Centennial, Colorado-based specialist in construction material testing and inspection, geotechnical engineering services, and forensic engineering and testimony services. No financial terms were disclosed. Salt Lake City, Utah-based CMT, a civil and geotechnical engineering services provider, is backed by Canadian private equity firm CAI Capital Partners.

PRESS RELEASE

Vancouver, BC – March 22, 2022 – CAI Capital Partners (“CAI”) is pleased to announce that its portfolio company, CMT Engineering Laboratories, has acquired Cesare, Inc. (“Cesare”), a leading Colorado-based consulting engineering firm specializing in construction material testing and inspection, geotechnical engineering services, and forensic engineering and expert testimony services. With a growing breadth and depth of services, CMT Engineering Laboratories has rebranded to CMT Technical Services (“CMT” or the “Company”) to better represent its wide range of technical service offerings (outlined further below).

Cesare is a strong cultural fit with CMT and provides similar service offerings in a contiguous state. This partnership will enable CMT to geographically expand into another one of the fastest growing states with the addition of four offices and approximately 50 personnel in Colorado. CMT will provide Cesare with additional resources and infrastructure to assist in serving their high-quality customer base.

Cesare is led by William “Bill” Caires and has an experienced team of owner-managers who have retained an equity interest in the Company and will remain in their current roles.
“We are excited to expand in Colorado with the support of Bill and the rest of the Cesare team,” said Doug Watson, President of CMT. “Cesare shares our purpose in providing exceptional technical expertise, and we look forward to building on Cesare’s success and strong reputation across Colorado.”

Cesare is CMT’s fourth acquisition since inception and the second since partnering with CAI in September 2020. The acquisition of Cesare aligns with the Company’s long-term strategy of expanding its service offering and geographical footprint as a leading provider of technical services. With the acquisition of Cesare, CMT has locations in five of the fastest growing states in the U.S.

About CMT Engineering Laboratories
Founded in 2003, CMT is a leading provider of technical services, including construction material testing and inspection, analytical laboratory services, geotechnical and civil engineering services, construction management, and other ancillary services to the transportation, education, defense, healthcare, religion, government, and commercial sectors. The Company is headquartered in Salt Lake City with 13 offices throughout Utah, Arizona, Idaho, and Texas. For additional information, please visit www.cmtlaboratories.com (updated website to be revealed shortly)