Premium Inspection and Testing acquires Quad City Testing Laboratory and Quad City Calibration
Premium Inspection and Testing, Inc. (“Premium”), a Calvert Street Capital Partners ("Calvert Street") portfolio company, is pleased to announce that on May 5, 2015 it completed the acquisition of Quad City Testing Laboratory, Inc. and Quad City Calibration, Inc. (collectively “QCTL”).
Premium, through its operating subsidiaries, offers leading nondestructive testing (“NDT”) and inspection services to a wide variety of end markets, including midstream oil and gas, power generation, food processing, agriculture, chemical processing, and refining. QCTL provides NDT, inspection, training, and calibration services both on-site and in-house from its state-of-the-art facility. The acquisition of QCTL allows Premium to offer a broader range of services to its customers as well as expand its presence into the Midwest.
The companies are a natural fit, having achieved success through exceptional service and quality with best-in-class people, technologies and methods. States QCTL President Rod Reinholdt, “Our core beliefs align perfectly with Premium’s. We are excited to join the Premium platform and offer all of our customers expanded services, resources, and support.”
Premium CEO Mike Cooper states, “The entire Premium team is very excited about the opportunity to join forces with QCTL. Our combined organization will have the ability to continue to provide exceptional service and add value to our customers’ NDT programs."
Matt McLain, Principal at Calvert Street, added that “the acquisition of QCTL by Premium represents an important milestone in our strategy to build a leading, diversified NDT and integrity service provider. We are excited to welcome Rod and the rest of QCTL to our team.”