COSTA MESA, Calif., April 25, 2008 (PRIME NEWSWIRE) -- Integrated Technologies Inc. was acquired by MISTRAS Group Inc. Terms of the transaction were not disclosed.
RSM EquiCo Capital Markets LLC initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Integrated Technologies.
Dr. Sotirios J. Vahaviolos, chairman and chief executive of MISTRAS Group, said: "With iTi's outstanding service to the nuclear and power generation industry, supported by years of engineering experience and technical practical knowledge, we have expanded our group's capabilities. As a technology-enabled services company, our goal remains to be the global NDT (nondestructive testing) solutions leader. We welcome the iTi team to the MISTRAS family."
"Through the acquisition of Integrated Technologies, MISTRAS will not only strengthen its technical capabilities, but also continue to broaden its customer base within the nuclear energy sector," said Paul Bodet, vice president, RSM EquiCo.
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. John Dorey, senior managing director, and Bodet led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm's services include mergers, acquisitions, divestitures, recapitalizations, capital raising and fairness opinions. RSM EquiCo Capital Markets, which offers in-depth expertise in 12 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Integrated Technologies, Inc.
Integrated Technologies (www.iti-ndt.com) is an engineering services company specializing in non-destructive testing and condition assessment of mechanical components and piping. iTi provides inspection services on heat exchangers and other components in both nuclear and non-nuclear applications, in addition to other metallurgical, engineering and specialty services, including in-service-inspection to American Society Of Mechanical Engineers (ASME) Section XI. iTi is based in Waterford, Conn.
About MISTRAS Group Inc.
MISTRAS Group (www.mistrasgroup.com) provides nondestructive testing products and services under such brand names as CONAM Inspection & Engineering Services Inc., Physical Acoustics Corp., Code Services, Quality Services Laboratories Inc., Caliber Inspection, PRI, NDT Automation, Controlled Vibrations Inc. and Vibra-Metrics. MISTRAS Group offers asset inspection and mechanical integrity solutions to the oil and gas, power generation, aerospace, infrastructure and manufacturing sectors, as well as strategic online instrumentation that facilitates plant asset management. In addition, MISTRAS provides enterprise solution software that aids in the safe and profitable operation of industrial facilities worldwide. MISTRAS is based in Princeton Junction, N.J.