LOS ANGELES--(BUSINESS WIRE)--Industrial Capital Strategies is pleased to announce the sale of UT Quality Inc. to RAE Energy of London, United Kingdom. UT Quality develops and manufactures specialized pipeline inspection solutions including automated ultrasonic testing, phased-array and time of flight diffraction technologies that is utilized for weld inspection for pipeline construction projects. UT Quality employs over 150 full-time employees, including approximately 80 technicians.
RAE Energy provides a unique opportunity to enhance the UT Quality business through global scalability, strong industry knowledge and leadership, strategic financial investments, and the ability to capitalize on market opportunities.
Adrian Met, Chairman of UT Quality, stated: “We are looking forward to the future growth of UT Quality. RAE Energy’s global leadership and industry knowledge will drive new innovations and marketing to support the business. We will continue to deliver unsurpassed customer service and leading technology to our customers.”
Phillip Bradney, Executive Director at RAE Capital, stated: “We are excited to have UT Quality become a part of the RAE Energy team. We believe that UT Quality has built a leading brand in the Oil & Gas services industry through innovation and quality service. We will continue to build on UT Quality’s position in the market and its reputation for having the best technology and employees.”
“We are pleased to team UT Quality with RAE Energy, a quality acquirer that has the global reach and management capabilities to capitalize on its innovative technologies in the pipeline weld inspection market,” said Chris Weyers, Managing Director of Industrial Capital Strategies, who, acting in the capacity of a registered agent of M&A Securities Group, Inc., served as the UT Quality’s exclusive financial advisor.
About RAE Energy
RAE Energy, a private company, is a diversified industrial global company focused on the Oil & Gas industry.
About Industrial Capital Strategies
Industrial Capital Strategies specializes in mergers and acquisitions in the Testing, Inspection and Certification (“TIC”) sector. The firm assists private middle-market companies, multinational corporations, and private equity groups alike with their business sales or corporate growth initiatives in the TIC industry.