New Century Software Has Been Acquired by MISTRAS Group
HOUSTON, September 16, 2019 -- GulfStar Group ("GulfStar"), a leading middle market investment bank, is pleased to announce that New Century Software, Inc. ("New Century" or the "Company") has been acquired by MISTRAS Group, Inc. ("MISTRAS"). GulfStar served as the exclusive financial advisor to New Century throughout the transaction, which closed on September 3, 2019.
Founded in 1994, New Century is a leading provider of pipeline integrity management software and services to energy transportation companies. The Company is headquartered in Fort Collins, Colorado and provides software solutions, data management expertise, and extensive pipeline experience to enable a global network of customers in the oil and gas industry to manage pipeline integrity, meet regulatory compliance, and maximize safety and reliability.
"The integration of New Century's pipeline integrity management software suite with MISTRAS' existing pipeline integrity portfolio will provide midstream customers with the most fully-integrated, data-driven pipeline protection solution ever made available to the industry," said Ron Brush, President of New Century. "The positive result of this transaction would not have been possible without GulfStar's experience in the sector and their strategic consultation. I was impressed by the experience and professionalism of the GulfStar team."
MISTRAS (NYSE: MG) is a leading, global provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure. MISTRAS combines industry-leading services, products, and technologies to provide a unique, custom-tailored solution for each customer's individual asset protection need. MISTRAS' asset protection portfolio includes field and laboratory inspections & testing; engineering services for asset integrity management; maintenance and light mechanical services; online asset-condition monitoring services; and manufacturing of inspection and monitoring equipment. Data from these solutions is centralized in MISTRAS' world-class inspection data management software PCMS - Plant Condition Management Software - to provide clients with integrated, comprehensive asset protection from a single provider. Onstream Inspection Services, acquired in December 2018, provides inline inspection services and applies advanced machine learning technology to significantly improve ILI analysis with reduced turnaround time.
"This transaction allowed us to combine our software and tech-enabled services expertise with our midstream energy experience to achieve a successful outcome for our client," said Roshan Gummattira, Managing Director and Technology Practice Leader at GulfStar. "We appreciated the opportunity to work with Ron on identifying the right strategic buyer and synergistic opportunity for his team and Company," added Kent Kahle, Managing Director of GulfStar. The GulfStar team consisted of Managing Directors Roshan Gummattira and Kent Kahle along with Vice President Charles Craig.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 680 transactions in 35 states and 16 foreign countries across a variety of industries.