Denver-based Platte River Ventures completed the recapitalization of Global X-Ray & Testing Corp., which provides testing and evaluation services to the oil and gas industry. Financial terms were not disclosed. McGladrey Capital Markets served as Global X-Ray’s exclusive financial adviser.
Global X-Ray & Testing Corp., a provider of non-destructive testing and evaluation services to the oil and gas industry, has been recapitalized by Platte River Ventures, a Denver-based private equity group.
McGladrey Capital Markets initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Global X-Ray. Transactions terms were not disclosed.
“The recapitalization of Global X-Ray by Platte River Ventures will provide the shareholders with significant opportunity to gain scale through organic growth and selective acquisitions in the testing and inspection sector,” said Miroslav Lazarov, Director at McGladrey Capital Markets’ Energy group.
About Platte River Ventures
Platte River Ventures is a private equity investment firm based in Denver, Colorado, focusing on small and middle market operating companies. Utilizing the significant operating expertise of its principals, Platte River Ventures serves as a value-added partner to the management teams of its portfolio companies.
About Global X-Ray
Since its founding in 1964, Global X-Ray has evolved from a traditional nondestructive testing firm into a specialized provider of quantitative NDE solutions for the major oil and gas companies in the Gulf of Mexico and other key domestic energy markets. Global X-Ray is based in Morgan City, Louisiana with additional offices in Louisiana, Texas and Alabama.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.