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Farlie Turner Advises on Sale of IOS Holdings to L.B. Foster Company

By: Erik Rudolph - Date: 03/25/2015

FORT LAUDERDALE, Fla. (March 24, 2015) – Fort Lauderdale-based investment banking firm Farlie Turner & Co. is pleased to announce the sale of IOS Holdings (“IOS”). The company, a leading provider of inspection and tubular integrity management systems, was sold to L.B. Foster Company (NASDAQ: FSTR) on March 16, 2015. Farlie Turner served as co-advisor to IOS in the sale. Terms of the transaction were not disclosed.

“We have followed Calvert Street’s partnership with IOS since 2011, when we worked with management to identify a value-added partner for the IOS team,” commented Erik Rudolph, a Managing Director at Farlie Turner. “In partnership with Calvert Street, the company has significantly increased operating scale and revenue while expanding its services offerings and building its premier customer base of upstream oil and gas companies,” he added. Farlie Turner’s team was led by Erik Rudolph and Scott Sanderson.

Based in Houston, TX, IOS provides non-destructive testing, inspection and other asset integrity services such as repair and threading for oil country tubular goods and drill tools. The company has a presence in every major unconventional shale play in the Lower 48 and operates a national platform with 30 locations across the U.S. The company’s inspection and integrity services ensure safety, reliability, compliance and asset performance, providing significant value to customers throughout the life cycle of an oil or gas well.

Founded in 1995, Calvert Street Capital Partners is a lower middle market investment firm based in Baltimore, Maryland. Throughout its history, Calvert Street has developed a commitment to investing across industrial services, testing and inspection, business services, healthcare information technology and niche manufacturing sectors. For more information about Calvert Street Capital Partners, visit www.cscp.com.

L.B. Foster supplies transportation, construction, utility, energy, recreation and agriculture markets with the materials necessary to build and maintain their infrastructure. The company is a leading manufacturer, fabricator and distributor of quality transportation and construction materials. For more information about L.B. Foster, visit www.lbfoster.com.

About Farlie Turner

Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provide merger and acquisition, private placement and financial advisory services to middle market companies.  


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