In the News
Crescentia Capital Announces the Sale of Premium Inspection & Testing
November 19, 2021 – Crescentia Capital 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 Crescentia Capital
Crescentia Capital is a lower middle market investment firm based in Baltimore, Maryland. Calvert Street consists of experienced professionals pursuing two distinct investment strategies: (i) control equity investments (through Calvert Street) and (ii) mezzanine investments (through Parkway Capital). The control equity team utilizes a research driven approach to identify attractive businesses in industrial and infrastructural services, and specialty manufacturing companies. Since its inception in 1995, Calvert Street has partnered with talented operators to drive profitable growth and organizational transformation. Calvert Street’s equity control team has invested more than $600 million of capital (including co-investment amounts) across 65+ companies. More information can be found on its website (www.cscp.com).