DENVER, Dec. 22, 2010 /PRNewswire/ -- Platte River Ventures announced today that it acquired all of the outstanding stock of Car-Ber Testing Services ("Car-Ber" or the "Company"), in partnership with the founders of the Company. Headquartered in Sarnia, Ontario, Canada, Car-Ber is a leading provider of technical support and maintenance services to the petrochemical industry.
"We are excited about this transaction and the opportunity it will afford our company to achieve its full potential," said Glenn Carson, President of Car-Ber. "Platte River Ventures will be a valuable partner for Car-Ber, and we are looking forward to working together toward building a great company."
Peter Calamari, Managing Director of Platte River Ventures said, "We are pleased with our new partnership with the management team of Car-Ber. The Company has industry-leading products and field technicians, as well as a commitment to increasing customer safety and efficiency, all of which made this an attractive investment for Platte River Ventures."
About Car-Ber Testing Services
Car-Ber was founded in 1995 in Sarnia, Ontario, Canada, to provide technical support and maintenance services to the petrochemical industry through a patented hydrostatic weld testing process and hydrostatic/hydrodynamic isolation capability. The Company has grown to become the leader in these services and has expanded to provide a broad range of technical services to its customers, including cold cutting, beveling and field machining, plain end testing, hot taps, line stops and controlled bolting. The Company has an active research and development program and continues to develop new tools and improved processes to better serve its customer base. Car-Ber has 18 locations in key markets in North America and elsewhere around the world that service the leading petrochemical operators, fabrication yards and pipeline contractors. For more information on Car-Ber Testing Services, please visit www.carbertesting.com.
About Platte River Ventures
Based in Denver, Colorado, Platte River Ventures is a private equity firm focused on investing in small and middle market operating companies with enterprise values between $10 million and $200 million. The firm seeks investments where it can leverage its principals' operating expertise to help its management partners' develop significantly larger enterprises through a combination of internal growth and complementary add-on acquisitions. The firm focuses on investing in the industrial and energy services, aerospace, rail, metals, chemicals, agriculture and industrial minerals sectors. Platte River Ventures currently manages funds with committed capital in excess of $300 million. For more information on Platte River Ventures, please visit www.platteriverventures.com.
SOURCE Platte River Ventures