Sale to MISTRAS Group, Inc.

Industrial
Sale to MISTRAS Group, Inc.

Summary

Baird served as the exclusive financial advisor to Onstream Pipeline Inspection Services Inc. on this transaction

About

Onstream Pipeline Inspection Services Inc. (“Onstream” or the “Company”), a portfolio company of Novacap Investments, Inc. (“Novacap”), recently completed its sale to MISTRAS Group Inc. (“MISTRAS”) (NYSE:MG) for approximately C$190 million.

Onstream is a leading provider of proprietary, technology-enabled inline inspection and data analytics services, and is a leading provider of inline inspection services in the “unpiggable” segment of the small to mid-bore North American gathering and midstream pipeline market. Onstream was founded in 2005 and is headquartered in Calgary, Canada.

Novacap is a leading Canadian private equity firm with C$2.3 billion of assets under management. Novacap’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. Novacap was founded in 1981 and is headquartered in Longueuil, Canada.

MISTRAS is a leading “one source” global provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure. MISTRAS combines our industry-leading services, systems and technologies to provide a unique, custom-tailored solution for each customer’s individual asset protection need. MISTRAS asset protection portfolio includes field and laboratory inspections & testing, engineering services for asset integrity management, maintenance and light mechanical services, online asset-condition monitoring services and manufacturing of inspection and monitoring equipment. MISTRAS was founded in 1978 and is headquartered in Princeton Junction, New Jersey.
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Industrial
Sale to MISTRAS Group, Inc.
Date
December 2018
Company
Onstream Pipeline Inspection Services Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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