Pine Tree Equity Recapitalizes CrossBridge Compliance
Pine Tree Equity III, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has recapitalized CrossBridge Compliance, LLC (“CrossBridge” or the “Company”) in November 2014. The Company, founded in 2010 and headquartered in Longview, TX, is a leading regional provider of safety and training services (e.g., audit, consulting, training, etc.) required to meet safety regulations in the oil and gas pipeline and railcar industries. For additional information, please visit www.crossbridgecompliance.com.
In order to meet the regulatory and insurance requirements associated with safety standards, oil and gas producers (i.e., pipelines) and transporters (i.e., railcars manufacturers and railcar operators) utilize safety services to ensure compliance so they can avoid government penalties, manage insurance costs and prevent pipeline and railcar failures. There has been recent momentum to enact more stringent regulations as a result of high-profile public failures of both oil and gas pipelines as well as minimally reinforced railcars carrying crude oil, for example, which have highlighted the necessity for change.
Pine Tree Equity partnered with CrossBridge management to recapitalize the platform in order to materially expand its trainer base and readily meet the growing demand from the oil and gas pipeline and railcar industries. Moreover, the Company will aggressively pursue add-on acquisitions of competitive and complementary businesses. CrossBridge marks Pine Tree Equity’s 6th investment in the oil and gas services industry, and 25th investment since Pine Tree Equity’s inception in 2007.