NEW YORK–(BUSINESS WIRE)–Graycliff Partners is pleased to announce the acquisition of XCEL NDT (“XCEL”), a provider of non-destructive testing services for critical infrastructure assets in the petrochemical, pipeline and general industrial industries.
XCEL’s testing and inspection services evaluate the integrity of critical infrastructure using non-invasive methods with little or no production downtime. Operating out of 17 facilities across the U.S., the company’s expansive team of experienced technicians utilize an array of conventional and advanced equipment to detect structural issues like corrosion and cracking, as well as material composition and grade. These services are critical to ensure infrastructure is functioning reliably and safely, and to help customers maintain compliance with stringent regulatory and insurance requirements.
“We are impressed by the experience, passion and enthusiasm of the team at XCEL,” said Garrett Wentzell, Principal at Graycliff. “We are excited to partner with the team to drive continued growth, both organically and through acquisition.” Graycliff and management plan to pursue growth in new and existing markets, complementing XCEL’s current offering with new services, geographies and end markets.
Cole Morehead, CEO of XCEL, commented, “We are thrilled to move forward with Graycliff as our strategic and financial partner. The team at Graycliff took the time to understand our business thoroughly and ensure all our goals were aligned. We’re eager to leverage their knowledge, resources, and strategic direction to take XCEL to the next level.”
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on making lower middle market investments, typically in manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
Contacts
Caileigh Johnston
Graycliff Partners LP
cjohnston@graycliffpartners.com
212-300-2932