JZCAPITAL PARTNERS ACQUIRES NATIONAL INSPECTION AND CONSULTANTS, LLC
~ New acquisition expands JZCP's Industrial Services Solutions ("ISS") segment ~
9 February 2015
JZ Capital Partners, Ltd. ("JZCP"), the London listed private equity fund that
invests in high quality US and European microcap companies and US real estate,
along side its long-term investment partner The Edgewater Funds
("Edgewater"),has acquired National Inspection and Consultants, LLC ("NIC").
The final purchase price is still to be finalised but is expected to be between
$9-10 million. JZCP owns 37.4% of the combined entity on a fully-diluted basis.
Headquartered in Fort Myers, Florida, NIC provides teams of experienced,
certified inspectors, and project managers for assignments primarily in the
U.S. nuclear power sector. The Company offers non-destructive testing, quality
control inspection, quality programs consulting, technical and professional
staffing training, erosion/corrosion monitoring services and employee concerns
program consulting.
NIC represents the third investment for ISS' Speciality Field Services Group
("SFSG"). Led by Jim Rogers, a GE veteran who has extensive industry
experience, ISS is generating annual sales and EBITDA in excess of $265 million
and $40 million, respectively.
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "NIC adds
another high quality company to our already strong ISS platform and is a
natural fit for SFSG, enhancing its industrial field service capabilities in
the U.S. nuclear power sector.
Over the past few years, ISS has evolved into a substantial platform with a
significant growth trajectory. The acquisition of NIC builds on this strong
momentum and adds to the strength of our overall US investment portfolio.
The agreement follows JZCP's recently announced real estate acquisitions in New
York and Miami, where it has made three investments alongside its long-term
real estate partner, RedSky Capital, LLC."
Ends
For further information:
Ed Berry / Kit Dunford +44 (0) 20 3727 1143
FTI Consulting
David Zalaznick +1 212 485 9410
Jordan/Zalaznick Advisers, Inc.
Andrew Maiden +44 (0) 1481 745368
JZ Capital Partners
About JZCP
JZCP is a London listed private equity fund which invests in high quality US
and European microcap companies and US real estate. Its objective is to achieve
a superior overall return comprised of a current yield and significant capital
appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,
Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have worked
together for 30 years and are supported by teams of investment professionals in
New York, Chicago, London and Madrid. JZAI's experts work with the existing
management of microcap companies to help build better businesses, create value
and deliver strong returns for investors. JZCP also invests in mezzanine loans,
first and second lien investments and other publicly traded securities. For
more information please visit www.jzcp.com.
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