Investment made in IOS
CLEVELAND, OH - Ninth Street Capital Partners, a Cleveland-based private investment firm, is pleased to announce it has acquired a minority stake in Inspection Oilfield Services (IOS). Terms were not disclosed.
IOS is a leading independent inspection and value-added service provider for Oil Country Tubular Goods (OCTG) and drill tools with 25 fixed service locations and mobile operations serving all of the major oil and natural gas producing regions in the United States. IOS is based in (provide).
Patrick Dickinson, Managing Partner of Ninth Street, will take a seat on the company's board, while Michael Weiner, Managing Partner of Ninth Street, will provide board oversight. Ninth Street has significant experience in the OCTG industry. It recently sold its portfolio company, Castronics, a regional integrated provider of finishing and logistics services for OCTG.
The investment will help IOS expand into the Rocky Mountain and Upper Midwest regions.
About Ninth Street Capital Partners
Ninth Street Capital Partners is an investment firm located near Cleveland, Ohio. It was founded in 2009 and makes lead investments in smaller middle market companies across a diverse range of industries. Ninth Street takes a hands-on operational approach, investing in growing niche-leading companies with revenues of $5 million to $50 million and EBITDA of $2 million to $10 million. More information on Ninth Street may be found at its website, www.ninthstreetcapital.com.