Investment funds managed by Morgan Stanley Capital Partners , the middle-market focused private equity team within Morgan Stanley Investment Management, announced the sale of Alliance Technical Group , a leading provider of environmental testing and compliance services, to private equity funds affiliated with Blackstone. Financial terms of the transaction were not disclosed.
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Founded in 2000 in Decatur, Alabama as a small stack-testing business, Alliance has evolved into one of North America’s most comprehensive environmental services platforms. Since MSCP’s investment in 2021, the company has scaled substantially through market-leading organic growth, strategic M&A, expansion into complementary adjacent service lines, investment in technology capabilities, and the buildout of an integrated national operating platform. These initiatives broadened Alliance’s capabilities, enhanced its technical depth, and positioned the company as a differentiated partner to customers navigating increasingly complex environmental standards.
Eric Kanter, Head of Industrial Services for MSCP, said: “We’re proud to have partnered with Chris LeMay and the entire Alliance team to accelerate the company’s growth and advance its mission to deliver comprehensive environmental solutions. Over the course of our partnership, the team built a truly differentiated and unique business within Environmental Testing, Inspection, Certification, and Compliance (TICC), which we believe is well positioned for continued success. We are extremely grateful for their hard work and dedication and look forward to seeing the company’s next chapter unfold.”
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Chris LeMay, CEO of Alliance Technical Group, commented: “Our partnership with MSCP accelerated Alliance’s growth and enabled us to build a more diversified, integrated environmental services platform while staying true to our culture and client-first approach. I’m incredibly proud of our team’s dedication and execution over the past several years. As we look ahead, we’re excited to partner with Blackstone to continue investing in our people, strengthening our processes, and delivering industry-leading technology for our clients.”
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Piper Sandler & Co. acted as financial advisor to Alliance, with co-advisory support from Robert W. Baird & Co, Houlihan Lokey, and Environmental Financial Consulting Group (EFCG). Jones Day served as legal advisor to MSCP.
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Source : businesswire