IOS Acquires Permian NDT
On Septmeber 26, 2012, IOS, a Calvert Street Capital Partners ("Calvert Street") portfolio company, completed the acquisition of Permian NDT.
IOS is a leading provider of non-destructive testing (“NDT”), inspection and repair services for oil country tubular goods (“OCTG”), drill pipe and drill tools. Based in Gardendale, Texas, Permian NDT is a premier provider of NDT and inspection services to midstream oil and gas companies as well as other customers in the nuclear, civil infrastructure and defense industries.
The combination with Permian NDT represents another exciting milestone in IOS’ growth strategy, as it adds new services to the company’s portfolio of capabilities and further solidifies IOS’ footprint in the important Permian basin. With 25 fixed operating locations across Louisiana, Texas, New Mexico, Kansas, Nebraska, North Dakota, West Virginia, Pennsylvania and Ohio, as well 60 mobile inspection teams, IOS is a national provider of non-destructive testing, inspection and repair services to the upstream and midstream oil and gas markets.
Kevin McKay, CEO of IOS, commented that “Permian NDT is a great company with a long history of providing outstanding customer service and a culture that fits well with IOS. Permian NDT’s unique certifications, capabilities and relationships position both companies to better serve our customers.”
Brian Guerin, Principal at Calvert Street noted, “Permian NDT represents our fourth acquisition into the IOS platform strategy, allowing the company to expand into new end markets such as midstream and nuclear. This acquisition brings new customer relationships and access to local talent in the rapidly growing Permian basin, aiding IOS’ strategy to become the leading inspection and value-added service provider in all of the major domestic US oil and natural gas shale plays.”