Houston Integrity Consultants Has Been Acquired by PROtect
HOUSTON, TEXAS (March 20, 2023) – Statesman Business Advisors, LLC (“Statesman”) is pleased to announce that Houston Integrity Consultants, LLC (“HIC” and/or the “Company”), has been acquired by PROTECT,LLC (“PROtect”), a portfolio company of Spire Capital Partners (“Spire Capital”). Statesman served as the exclusive financial advisor to HIC throughout the transaction, which closed March 17, 2023.
Houston Integrity Consultants, LLC was founded in 2012 by the late John Tischuk, a pioneer of risk-based inspections (“RBI”). An expert that spent more than 40 years in the industry, John led the development of RBI by assisting in the writing of the original API documents on RBI.
HIC, now led by Stuart Beveridge, has earned a reputation as a trusted partner for its’ clients by consulting with them to evaluate equipment, inspection data, and develop strategic inspection programs to ensure safe and reliable operations. The Company provides services to various high hazard industries where Mechanical Integrity inspections are required. HIC has a team of experienced consultants who work with clients to develop inspection programs, and software engineers and developers who support their proprietary software applications.
“Statesman ran a highly efficient process, ultimately achieving a fantastic outcome for me and my family. Statesman’s market expertise and robust process management were critical to identifying the ideal buyer, navigating the transaction, and facilitating an overall quick and successful close,” said Stuart Beveridge, Operations Director of HIC.Stuart added, “We are excited to be joining PROtect and to bring our RBI service capabilities and software applications to a wider range of clients. Together with PROtect, we look forward to delivering new capabilities to our collective clients across a range of industries.
About the other transaction participants
Statesman Business Advisors, LLC (Houston, TX) is one of Houston’s premier financial advisory firms serving middle-market businesses. Statesman specializes in merger and acquisition advisory services (both sell side and buy side), management buyouts/recapitalizations, business financing and capital sourcing, and accredited business valuations. Additionally, Statesman provides due diligence services and government guaranteed loan packaging for financial institutions. Securities transactions are completed through Statesman’s affiliate, Statesman Corporate Finance, LLC, a FINRA registered broker-dealer. The Statesman team advising on this engagement included Will Jaco, Principal, Peter Chiu, Director, and Philip Rodriguez, Vice President.
PROtect (Wichita, KS) is a professional services company that provides safety, reliability, and compliance services to high-hazard industries such as renewable fuels, chemicals, oil & gas, power generation, pulp and paper, and allied manufacturing industries. Such categories include advanced and conventional non-destructive testing, mechanical integrity, leak detection and repair, environmental, industrial hygiene, safety, process safety management, and insurance risk management.
Spire Capital (New York, NY) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital Partners was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan.
Weycer, Kaplan, Pulaski & Zuber, P.C. (Houston, TX) provided legal counsel to HIC led by Shareholder Robert C. Beasley.
Dentons (Kansas City, MO) provided legal counsel to PROtect led by Partner Chris S. Heller and Associate Joseph Lordi.