Pine Tree Equity Recapitalizes Hi-Tech Testing Service
Pine Tree Equity II, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has recapitalized Hi-Tech Testing Service (“Hi-Tech” or the “Company”) in partnership with management in August 2010. The Company, founded in 1996 and headquartered in Longview, TX, is the leading regional provider of full service non-destructive testing with specialized data acquisition equipment and reporting capabilities. Hi-Tech’s personnel provide services meeting the requirements of API, ASME, AWS, AWWA as well as other codes, customer specifications and standards. Industries currently served are manufacturing, petrochemical, pipeline, pulp and paper, railcar and utility. Hi-Tech has an exceptionally strong history of revenue growth and operating profitability even in the most challenging of financial markets. For additional information, please visit www.hitechtesting.com.
Pine Tree Equity partnered with Mr. Jamie Davis, the President and Chief Executive Officer of Hi-Tech to recapitalize the platform in order to materially expand geographic coverage and aggressively pursue add-on acquisitions. As a result, Pine Tree Equity is actively searching for add-on acquisitions of competitive or complementary companies – with revenue of $5.0 million to $20.0 million – in the non-destructive testing space serving the pipeline and pulp and paper industries throughout the United States.
We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please call Jeff Settembrino at (305) 808-9820.