Element Integrity Group Has Been Acquired by Versa Integrity Group


HOUSTON, TEXAS (March 2, 2020) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Element Integrity Group (“Element” and/or the “Company”), has been acquired by Versa Integrity Group, Inc. (“Versa”), a portfolio company of Dorilton Capital (“Dorilton”). Statesman served as the exclusive financial advisor to Element throughout the transaction, which closed February 3, 2020.

Element provides innovative mechanical integrity and non-destructive testing services to the petrochemical industry, including consulting, program implementation, inspection, verification and testing. Element has over 60 employees and offices in Bartlesville, OK, Karnes City, TX and Houston, TX.

Element was founded by industry veterans Nick Brown and Brandon Revard who have built a team of experienced, specialized asset integrity professionals. Element shares Versa’s commitment to safety, quality, and customer service. The acquisition of Element will bolster Versa’s provision of asset integrity services and expand its presence into Oklahoma and the Eagle Ford Shale.

“We greatly enjoyed working Statesman,” said Brandon Revard, President of Element. “Their entire team was very organized, responsive to our needs, and helped Elment ultimately get a tremendous transaction for our customers, employees, and shareholders across the finish line.”

About the other transaction participants

Statesman Corporate Finance, LLC is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Principal Will Jaco, with support from Vice Presidents Peter Chiu and Jessica Seff, and Associate Philip Rodriguez.

Versa Integrity Group, Inc., a portfolio company of Dorilton Capital, is a leading non-destructive testing, mechanical integrity, rope access, heat treatment and advanced services provider. The company’s team is made up of over 900 engineers, API inspectors, rope access climbers, NDE technicians and support professionals. Versa has 23 offices primarily located throughout the Gulf of Mexico region and is headquartered in Sulphur, LA.

Dorilton Capital (New York, NY) provides long term, patient capital to lower middle market companies across a variety of industries. As a partner, Dorilton works with entrepreneurs on growth while preserving the legacy and culture of their companies. Vice Presidents Chadi Letayf and Andrew Tripp, with support from Associate Landon Weis were instrumental in completing this transaction.

Hall Estill (Tulsa, OK) provided legal counsel to Element led by Shareholder Sarah Hansel and Associate Isaac Helmerich.

Jones Day (Columbus, OH) provided legal counsel to Versa and Dorilton led by Partner Joseph Hatina and Associate Jackson Lavelle.

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