Align Capital Partners (ACP), in partnership with management, has completed an investment in Alliance Source Testing (AST), a provider of source emissions (or stack) testing services to industrial facilities in the US.
Terms of the transaction have not been disclosed.
AST provides source testing solutions for utility, aluminium, midstream energy, specialty chemical and other types of industrial facilities for permitting and compliance in accordance with mandates from local, state and federal regulatory bodies. The company services customers’ facilities on a repeated basis, with the frequency determined by regulations for each industry.
“We are excited to partner with AST’s management team to build upon the great success the company has achieved to date through consistently providing responsive customer service, accurate testing, and timely reporting,” says Rob Langley, managing partner at Align Capital Partners. “AST is a great fit with Align Capital Partners’ experience and operating resources, which help grow and professionalize founder-owned businesses.”
“We see the investment by an experienced firm like Align Capital Partners as a notable milestone in the growth of our company,” says AST CEO Chris LeMay. “The Align Capital Partners team has an impressive track record of investing in and growing entrepreneurial businesses, and we look forward to partnering with ACP and continuing to deliver unparalleled service to our customers.”
Managing partner Chris Jones and vice president Jack Parks worked alongside Langley on the transaction. Kirkland & Ellis provided legal and advice to ACP, Exit Strategies brokered the transaction and Madison Capital Funding provided financing for the transaction.
