Pine Tree Equity Recapitalizes XCEL NDT, Expanding Crossbridge Compliance with 4th Acquisition

Pine Tree Equity III, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that Crossbridge Compliance, LLC (“Crossbridge”) has acquired XCEL NDT, LLC (“XCEL”) in March 2019. XCEL, founded in 2012 and headquartered in Clifton, KS with six additional offices throughout the Midwest, is a leading regional provider of non-destructive testing and pipeline integrity services to the oil and gas industry. Crossbridge, headquartered in Longview, TX, is a leading regional provider of non-destructive testing and safety compliance, inspection and training services to the oil and gas, power generation, pulp and paper and rail industries. For additional information on Crossbridge, please visit www.crossbridgecompliance.com.

XCEL represents Crossbridge’s fourth add-on acquisition and significantly expands the company’s customer base, service offering, roster of certified technicians and senior management team. Pine Tree Equity partnered with Mr. Jamie Davis in November 2014 to recapitalize Crossbridge in order to materially expand its services and reach to readily meet the growing demand for testing, inspection and certification services in industrial environments. The acquisition of XCEL positions Crossbridge with a leading presence throughout the Central and Southern U.S. and adds a talented entrepreneur in Mr. Cole Morehead to the senior management team.

XCEL marks Pine Tree Equity’s 11th investment in the industrial services industry, and 69th investment since Pine Tree Equity’s inception in 2007 (i.e., 21 platform and 48 add-on acquisitions). Pine Tree Equity is actively searching for additional testing, inspection and certification investments. We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please call Joe Walter at (305) 808-9839.