December 7, 2023
Kelvin Group and Southfield Capital Announce the Strategic Acquisition of Advanced Examination Services
GREENWICH, CT – Southfield Capital, a premier lower middle market private equity firm, announced today that Kelvin Group, (“Kelvin”), a platform dedicated to building a collaborative group of the largest independent industrial and commercial mission-critical mechanical services companies in the U.S., has completed the acquisition of Advanced Examination Services (“AES”), a provider of non-destructive testing (“NDT”) services for the petroleum, chemical and agricultural industries. The acquisition of AES represents Kelvin’s ninth acquisition since partnering with Southfield.
Headquartered in Torrance, CA, with regional offices in Lakeville, MN and East St. Louis, IL, AES is a collaboration of experienced personnel with the knowledge and integrity necessary to provide a safe, economic and turnkey service with the newest and most advanced equipment and technology. With ever-changing processes, AES’s team is dedicated to retrieving accurate data for costly decisions.
Harry Gray, CEO of Kelvin Group, commented on the recent addition to the company’s portfolio, "We are excited to welcome the AES team into the Kelvin Group family of brands. Their reputation for delivering innovative technical services is a testament to their unparalleled expertise and unwavering commitment to safety and client satisfaction. This partnership presents an exciting opportunity for us to leverage AES's advanced non-destructive testing solutions, benefiting Kelvin's refrigeration customers, while concurrently fortifying HCG Associates' compliance offerings."
"The integration of AES into Kelvin Group is a testament to our shared values and vision for growth and success,” said Adam Shideler (Owner, AES). “This partnership represents an exciting chapter in our journey, one that amplifies our capabilities and resources. Together, we'll continue our legacy of safety, excellence and quality, forging new paths and fostering collaborative solutions that redefine industry standards."
Southfield Principal, Chris Grambling, commented on the transaction, "AES is highly complementary to Kelvin, providing new services to Kelvin customers while bolstering our compliance division with the latest technologies. We are thrilled to welcome Adam and the AES team to the Kelvin family."
Deerpath Capital Management provided debt financing. Finn, Dixon & Herling provided legal counsel to Kelvin and Southfield Capital. G2 Capital Advisors served as the buy-side advisor to Kelvin.
About Kelvin Group
Kelvin Group is a leader in the field of industrial and commercial mission-critical mechanical services, process safety management and environmental compliance. Its turnkey solutions provide design/installation and ongoing service and preventative maintenance of world-class mechanical systems for leaders in the food and beverage, cold storage, pharmaceutical, educational, health care, and process industries. Once engaged with customers, it assists business owners achieve mandated health, safety, environmental and regulatory compliance standards.
For more information, please visit
www.kelvin.cool.
About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 - 15 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies.
For more information, please visit
www.southfieldcapital.com.
