Calvert Street Announces the Sale of Premium Inspection & Testing
November 19, 2021 – Calvert Street is pleased to announce that it has successfully completed the sale of its portfolio company, Premium Inspection & Testing Group (“Premium”), to Acuren, a portfolio company of American Securities.
Calvert Street formed Premium in 2015 as a platform to execute on a buy-and-build strategy in the industrial non-destructive testing and inspection industry in the US. Under Calvert Street’s ownership, Premium acquired Quad City Testing Labs (Davenport, IA), Capitol Ultrasonics (Baton Rouge, LA), Landbros (Baton Rouge, LA), Quality Testing Services (St. Louis, MO) and Infrared Thermal Imaging (Corpus Christi, TX).
Dal Miller, Chairman and CEO of Premium, commented: “Calvert Street has been a fantastic Partner in building Premium to date. With enhanced career growth opportunities for our employees and a broader service line offering for our customers, joining Acuren will allow Premium to go to the next level.”
Brian Guerin, Partner at Calvert Street, added: “Premium is a great company with an enviable market position and a first-class management team. We are extremely proud of their accomplishments and excited for the growth opportunities that lay ahead for the entire team.”
ABOUT PREMIUM INSPECTION & TESTING
Premium Inspection & Testing Group is a leading provider of non-destructive testing and inspection services utilizing a wide array of technologies to serve manufacturing, industrial, petrochemical, refining and agricultural customers in the Gulf Coast and Midwest regions of the US. For more information, please visit www.pitinc.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 over $685 million in over 90 companies (45 platform acquisitions and 46 add-ons).
For more information, please visit www.cscp.com.