MISTRAS GROUP ACQUIRES CANADIAN PIPELINE INSPECTION SPECIALIST

MISTRAS Group, Inc. (Princeton Junction, N.J.; www.mistrasgroup.com) announced that it has acquired 100% of the stock of Onstream Pipeline Inspection Services, Inc.(Alberta, Canada), a leading North American provider of proprietary technology enabling pipeline inspection and data analytics services.  The preliminary purchase price for Onstream, acquired from Novacap and affiliates, a Canadian private equity firm, and other shareholders, was approximately $143 million.  In connection with the acquisition of Onstream, the company upsized its existing credit facility to $400 million for a new 5-year period.  Mistrasalso updated its full year 2018 guidance of estimated consolidated revenues to $740 million, an increase of $10 million over the high end of the Company’s most recent outlook and exclusive of the impact from Onstream.