IOS Acquires Oilfield Tubular Inspection
IOS (the “Company”), a Calvert Street Capital Partners ("Calvert Street") portfolio company, completed the acquisition of Oilfield Tubular Inspection (“OTI”). IOS is a leading independent provider of non-destructive testing (“NDT”), inspection and value-added services for oil country tubular goods (“OCTG”) and drill tools. Created in 2005 through the merger of Rick Wilson Inspection and AMAC Oilfield Pipe Inspection, OTI is a market leader in mobile, on-site inspection, testing and cleaning services of OCTG and drill tools in the Woodford, Mississippian and Granite Wash shale plays.
The acquisition of OTI represents another important chapter in IOS’s growth strategy, and adds immediate scale to the Company’s Mid Continent operations. Together with OTI, IOS is a one-stop best-in-class service provider with 24 fixed locations across Louisiana, Texas, Oklahoma, Kansas, Nebraska, North Dakota, West Virginia, Pennsylvania and Ohio, as well as a fleet of 80 vehicles that provide mobile inspection capabilities in every major shale play in the continental United States.
Dal Miller, President of IOS, commented, “OTI has an outstanding reputation for providing safe, high quality, and reliable inspection services in the Mid Continent region. Combining our resources in this important market allows us both to better serve our customers. We are delighted to welcome OTI to the IOS family.”
Brian Guerin, Partner at Calvert Street, noted, “The acquisition of OTI represents another highly strategic addition to the IOS platform, deepening our presence and service offerings in the Mid Continent region and, more generally, further diversifying the Company’s capabilities, customer base and growth opportunities.”