Sentinel Capital Partners, a private equity firm that invests in mid-market companies, has acquired SPL, a specialist in testing, inspection, and certification (TIC) services for energy and environmental markets.
Terms of the deal have not been disclosed.
SPL, an industry leader in TIC services, serves more than 1,700 customers, including some of the largest global energy companies. SPL operates 22 lab testing and service centres that analyse hundreds of thousands of samples annually for physical and chemical composition of hydrocarbons, lubricants, and wastewater. Its service centres house more than 250 highly trained technicians who inspect, install, and maintain field measurement systems for customers.
Sentinel has significant investment experience with business services, including those in the TIC energy and environmental services space. Previous investments include Apex (environmental services specialising in water resources and industrial hygiene), Trinity (air quality consulting and compliance services in the US), Precision Pipeline Solutions (specialty technical services to natural gas and electric utilities), and Engineered Controls International (specialised pressure regulators, valves, and control equipment for liquified and compressed gasses).
