IOS acquires JC Inspection and Xxtreme Pipe Services
IOS, a Calvert Street Capital Partners ("Calvert Street") portfolio company, simultaneously completed the acquisitions of two highly complementary companies: JC Inspection and Xxtreme Pipe Services.
Founded in 2001, with locations in Houston and Midland, Texas, JCI is a leading provider of drill tool inspection and repair services. Founded in 2003, Xxtreme is a prominent provider of inspection, API threading, repair and storage services for oil country tubular goods (“OCTG”) in Houston and south Texas.
The combination with JCI and Xxtreme represents another important chapter in IOS’s growth strategy and solidifies its position as the leading independent provider of inspection services for OCTG and drill tools. With 28 fixed locations across Louisiana, Texas, New Mexico, Kansas, Nebraska, North Dakota, West Virginia, Pennsylvania, New York and Ohio, and significant mobile inspection operations, IOS serves every major shale play in the continental United States.
Kevin McKay, CEO of IOS, commented: “JCI and Xxtreme represent two very strong companies, both of whom we have known and admired for a number of years, and we are very excited to welcome them to the IOS team. With shared cultures focused on safety, quality, and customer service, both JCI and Xxtreme will greatly enhance IOS’s overall service offering, footprint and talent.”
Brian Guerin of Calvert Street noted, “The acquisitions of JCI and Xxtreme represent important strategic additions to the IOS platform, further diversifying the Company’s capabilities, customer base, and growth opportunities while adding significant scale.”