GenNx360 Capital Partners Announces Investment in NVI – A Testing, Inspection, Certification, and Compliance Platform

NEW YORK--(BUSINESS WIRE)--GenNx360 Capital Partners ("GenNx360"), a New York City-based private equity firm investing in middle market business-to-business industrial and business services companies, today announced its investment in NVI, LLC ("NVI" or the "Company"), in partnership with the management team.

NVI is a national provider of testing, inspection, integrity, and program management services for customers across the energy infrastructure, industrial manufacturing, power generation, marine and data center end markets. NVI's primary capabilities include conventional and advanced radiography, direct assessment, erosion detection, and weld testing. The Company is headquartered in Gray, Louisiana, employs over 400 technicians and serves a diverse client base.

“We have been impressed with the business that Josh, Jason, and team have built. NVI is a strong testing, inspection, certification, and compliance (“TICC”) platform with a broad set of capabilities and an excellent culture rooted in safety and customer service. We are enthusiastic about the partnership with the NVI team and look forward to supporting them in the continued execution of their growth strategy,” said Pratik Rajeevan, Principal at GenNx360.

Monty Yort, Managing Partner at GenNx360, stated, "This investment is the result of a 3-year proactive sourcing initiative. We see tremendous opportunity at NVI and look forward to growing the business organically and through acquisitions.”

Josh Luft, President and CEO of NVI, stated, "Partnering with GenNx360 is a significant milestone for NVI and our clients. Since our founding, NVI has built a reputation for technical excellence and an unwavering commitment to getting the job ‘Done Right’. GenNx360’s deep knowledge of the TICC space and shared values make them the ideal partner to support our long-term vision and ensure we continue to meet the evolving needs of our customers.”

Jason Caruso, Executive Vice President of NVI added, “We are thrilled to partner with GenNx360 in this next phase of accelerated growth, NVI has established itself as a leader in the nondestructive testing market by consistently prioritizing quality and reliability, and we see a significant opportunity to build upon this foundation.”

GenNx360’s NVI team includes Monty Yort, Managing Partner; Pratik Rajeevan, Principal; Amit Phatak, Operating Vice President; and Jon Langenfeld, Associate.

Stifel Financial Corp. served as financial advisor and Miller, Sullivan & Demarcay served as legal counsel to NVI. Greenberg Traurig served as legal counsel and Houlihan Lokey served as financial advisor to GenNx360.

About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market industrial and business services companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include business & industrial services, IT services, automation & industrial technology, packaging products, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City. www.gennx360.com

About NVI
NVI, LLC is a leading provider of nondestructive testing, inspection, integrity, and program management services headquartered in Gray, Louisiana. The company serves clients nationwide across the energy infrastructure, industrial manufacturing, power generation, marine, and data center markets. Since its founding in 2004, NVI has built its reputation on technical excellence, safety, and a commitment to getting the job “Done Right,” offering both conventional and advanced inspection technologies to ensure the integrity and reliability of critical assets. www.nvindt.com