Odyssey Investment Partners has entered into a definitive agreement to sell its portfolio company Applied Technical Services, a provider of specialised testing, inspection, calibration, and forensic consulting solutions in North America, to SGS, in a transaction valued at $1.325bn.
ATS has a nearly 60-year history of providing critical solutions to clients across a diverse set of large and stable end markets including manufacturing, power generation, food and beverage, chemicals, aerospace, life sciences, and defence.
Its market-leading service offerings include materials testing, environmental simulation, chemical analysis, calibration, non-destructive inspection, and forensic consulting. ATS is headquartered in Marietta, Georgia and employs approximately 2,100 team members in over 85 locations across the United States.
ATS has undergone a dramatic transformation since it was acquired by an Odyssey fund in 2020. During this time, the company completed nearly 40 acquisitions, through which it added considerable scale and diversified its service offerings and end markets.
Further, Odyssey constructed a world-class executive team that has driven the company forward and built out a centralised corporate structure that has enhanced efficiency across ATS’s footprint.
Completion of the transaction, which is expected by the end of 2025, is subject to customary closing conditions.
Houlihan Lokey is serving as lead financial advisor with Rothschild & Co as co-financial advisor, and Latham & Watkins is serving as legal counsel to Odyssey.
