Technical Diagnostics Services Announces Acquisition of Potomac Testing Inc.
January 15, 2020 - Technical Diagnostic Services ("TDS"), is pleased to announce the acquisition of Potomac Testing, Inc. ("Potomac Testing") based in Crofton, Maryland.
Established in 1985, Potomac Testing, Inc. has earned its position as the mid-Atlantic leader in comprehensive low and medium voltage electrical equipment services: from NETA acceptance and maintenance testing, planned and emergency field services, power quality and engineering studies, to retrofitting and refurbishment of electrical equipment.
Commenting on the acquisition, Ken Bassett, President of Potomac Testing, said: "We have always prided ourselves on being the Mid-Atlantic's premier provider of electrical testing, engineering and field services. As we approach our 35-year anniversary, our decision to partner with TDS and Calvert Street ensures that we can continue to thrive in our industry for the long-term."
David Zabetakis, President and Chief Executive Officer of TDS, said: "While the companies will continue to operate independently with distinct brands, Potomac Testing's mission and core values are very much aligned with our own; including the commitment to the highest standards of safety, quality and service to customers. We look forward to the growth opportunities that will be created for both companies in the future."
Brian Guerin, Partner at Calvert Street, added, “Ken has built a great business over the years that is highly complementary to TDS’s strategy. We are excited to partner with Ken and the management teams of both companies in support of future growth initiatives.”
ABOUT TECHNICAL DIAGNOSTIC SERVICES
For over 25 years, Technical Diagnostic Services (TDS), based in Dallas/Ft. Worth, TX, has been delivering industry-leading service and test equipment solutions that empower its customers to safely start up and optimize the performance of their facilities' electrical and controls systems. TDS provides electrical, instrumentation and control testing and start-up and commissioning services as well as test electrical equipment rental, sales, calibration and repair to the power, oil & gas, process industries and other industrial end markets. For more information, please visit www.TDSsolutions.com
ABOUT CALVERT STREET
Calvert Street is a Baltimore, Maryland-based private equity firm focused on investing in businesses in the lower middle-market in targeted, thesis-led industry sectors. Calvert Street partners with founders, families, and skilled management teams of privately held businesses to drive profitable growth and organizational transformation. Since its inception in 1995, Calvert Street's managed funds have invested in over 80 acquisitions representing cumulative transaction values in excess of $1.2 billion.
For more information please visit www.cscp.com