Case Study:

IOS Holdings


Company: IOS Holdings ("IOS")
Portfolio company of Calvert Street Capital Partners ("Calvert Street")
Buyer: L.B. Foster Company (NASDAQ: FSTR)
Transaction Type: Sale

Company Profile

  • Provides inspection and tubular integrity management systems to the upstream oil and gas industry
  • Presence in every major unconventional shale play in the Lower 48 and operates a national platform with 30 locations across the U.S.

Situation Overview

  • Calvert Street Capital Partners acquired IOS in 2009
  • Under Calvert Street's ownership, IOS grew EBITDA by more than 7.0x through execution of both organic and acquisition growth initiatives
  • Farlie Turner was engaged as co-advisor to IOS in the sale transaction

Marketing Process Summary

  • Investors were attracted to IOS' inspection and integrity services that ensure safety, reliability, compliance and asset performance
  • 168 total buyers were approached, including strategic and financial parties

Outcome

  • IOS Holdings was sold to L.B. Foster Company (NASDAQ: FSTR)
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