Daily News: July 15, 2013

Fifth Third, Triangle Capital Finance Nautic Partners Acquisition

Nautic Partners, a private equity firm, announced that it partnered with management to acquire Applied Consultants. Applied is a provider of inspection services to the oil and gas pipeline infrastructure industry. Applied was founded in 1991 and is headquartered in Longview, TX.

Fifth Third Bank and Triangle Capital provided financing for the transaction. Terms of the transaction were not disclosed.

Applied offers inspection services on pipelines, compressor stations and processing facilities used in midstream oil and gas energy transport. Major oil and gas midstream companies utilize Applied’s inspection services to ensure that pipeline infrastructure is constructed in accordance with high-quality standards and procedures.

“Applied has been able to grow its business every year since it was founded 22 years ago,” said Doug Hill, Managing Director of Nautic. “That’s a testament to the strength of the Applied management team and their focus on always putting the customer first. We think Applied will continue to thrive, as the surge in US energy development continues to demand the build-out of new pipeline infrastructure to support increased production. We also believe that increases in regulation of energy development will support customers demanding more inspection services from high-quality, trusted partners like Applied.”

“We are very pleased to partner with Nautic and look forward to their strategic and financial support,” said Applied CEO Matthew Cheney. “I am confident we are entering an exciting new chapter for Applied, which should see significant growth and further success in the years to come.”

Applied is Nautic Partners’ thirteenth investment from its most recent fund, Nautic Partners VI, L.P.