SPL, a Portfolio Company of IGP, Makes Key Add-On Acquisition
SPL Inc., a leader in testing, inspection, and certification (“TIC”) for the energy markets, has acquired the laboratory & measurement services business of Banded Iron US Inc. (“BIG”), formerly known as Zedi US Inc. SPL, headquartered in Houston, Texas, is a portfolio company of Industrial Growth Partners.
BIG is a production management services company providing critical lab analytical services and measurement services to the energy industry. BIG offers over 200 unique laboratory tests, mobile testing, sample collection, meter proving and measurement solutions throughout the United States.
“Adding BIG to the SPL team helps us better support customers in the nation’s most attractive test and measurement markets,” said Jeff Hibbeler, SPL Chief Executive Officer. With laboratories and technicians located throughout North America, the BIG acquisition will expand SPL’s footprint in key markets such as Wyoming, New Mexico, Colorado, and North Dakota. The acquisition also adds new technology, such as flash liberation testing, to SPL’s vast lab testing offerings.
“We are pleased to be joining forces with what we view as the technology leader within the US energy TIC industry. The combination with SPL will help us grow in new markets, like the LNG and finished product export market, and better serve our combined customer base,” said Quinn Peterson, Business Development Manager for BIG.
On November 21, 2019, SPL acquired the laboratory & measurement business of Banded Iron US Inc., formerly known as Zedi US Inc. SPL and IGP continue to seek add-on acquisitions that can enhance SPL’s position as a leading independent TIC services platform for the energy market. To learn more about SPL, please visit www.spl-inc.com.