Atlanta, GA, March 19, 2018 – Atlanta-based investment banking firm De NES Partners, LLC is pleased to announce the sale of its clients (i) Diversified Inspections/Independent Testing Laboratories, Inc. (DI/ITL) and (ii) CraneCare, Inc. to Industrial Inspection & Analysis (IIA). Founded in 1969 and headquartered in Phoenix, AZ, Diversified Inspections/ITL is the largest independent, third-party, safety and integrity inspection firm in the country specializing in on-site, nondestructive testing (NDT) and inspection of vehicle-mounted aerial lifts, digger derricks, fire trucks, airline ground support equipment and live-line tools. CraneCare, a sister company based in Albuquerque, NM, is an all-inclusive overhead and mobile crane service company handling new crane system installation, repairs, maintenance, inspections, certifications, load testing, operator training, and part sales.
Headquartered in Atlanta, GA, IIA is a high-growth inspection, testing, and analytical business committed to providing Story-Worthy Service and Solutions even through the most challenging situations to customers nationwide and beyond. The addition of DI/ITL and CraneCare is an excellent complement to IIA’s inspection and NDT brands, which include US NDI, Fox NDE, and NDT Labs, as well as its engineering and analytical brands, which include Domson Engineering, TIMCO Engineering, QC Group and Infinium NDE.
“We at DI/ITL and CraneCare are very proud to have built the leading platform for aerial lift/crane inspections programs over the past 49 years. I am pleased with all of our accomplishments and the individuals that will continue with IIA,” states Leland Bisbee, President/CEO of DI/ITL and CraneCare. “The combination with IIA will offer our customers expanded NDT capabilities while continuing our joint commitment to the highest level of technical safety and integrity testing our customers have come to expect.”
“The acquisitions of DI/ITL and CraneCare immediately establishes IIA as a continental leader in the heavy equipment/lifting equipment inspection industry,” explains John Cote, CEO of IIA. “Combined with our recent acquisition of Domson, our reach in this very attractive sector spans the entire U.S. and a good portion of Canada. A key part of the IIA vision is serving a broad range of promising industries and diversifying our geographic presence.”
Doug Hubert & Don Schaeffer, who co-founded De NES Partners in 2014 after many years leading the investment banking practice for CBIZ, Inc. (NYSE:CBZ), commented, “As expected for a high-quality, national industrial services business with long-term customer relationships, DI/ITL and CraneCare garnered considerable interest from a broad group of prospective buyers. IIA’s complementary inspection and NDT services offering and desire to expand its aerial lift and crane-related services made it a natural fit.”
De NES Partners focuses on representing owners of single and multi-generational family and other privately-held businesses across the United States with revenue between $15-250 million and EBITDA between $3-25 million in M&A (full sale and recapitalization) transactions. The firm’s two principals, with over a combined 45 years of mergers & acquisitions advisory experience, have successfully completed transactions across the full spectrum of manufacturing, distribution, and company-to-company business services and have sold clients to some of the most sophisticated buyers in the world, including companies listed on the NYSE, NASDAQ, Toronto, Irish and London Stock Exchanges, as well as institutional private equity firms and family offices.
For more information about the Diversified Inspections/ITL and CraneCare transaction, please contact Doug Hubert, Managing Partner, De NES Partners, LLC, (770) 858-4491, dhubert@deNESpartners.com.