January 6, 2021
HOUSTON, TX (January 6, 2021) – Gilbert & Pardue LLC (GaP) acted as exclusive advisor to Radarview, LLC of Humble, TX in its sale to Ground Penetrating Radar Systems, LLC (GPRS) of Toledo, OH, a platform investment of Kohlberg & Company, LLC. The transaction closed on December 31, 2020.
Radarview is a leading provider of concrete scanning and utility locating services and has been serving clients in Texas for 18 years. Radarview’s clients include engineering firms, utilities, and contractors who rely on its services to identify and map the presence of subsurface structures using ground penetrating radar and other locating techniques. Radarview represents the sixth acquisition for GPRS.
GPRS is the nation’s largest company specializing in the detection of underground utilities, video pipe inspection, and the scanning of concrete structures. “This is a terrific opportunity for us,” said Todd Allen, President of Radarview. “GPRS is the market leader in the private locating industry, and we are excited to partner with Matt Aston and his team to continue to extend GPRS’ leadership position.” Mr. Allen added, “The new partnership with GPRS provides us additional capital and resources, enabling Radarview to better serve our customers and support our growth.”
Radarview enhances GPRS’ market position in the concrete scanning and private utility locating markets and adds scale to GPRS’ existing business in Texas. Matt Aston, President of GPRS stated, “Radarview is a strong company with highly-trained technicians and an excellent track record. Radarview represents a highly complementary acquisition for GPRS that enhances our market position in a rapidly growing market. Radarview operates with strong core values around ethics, safety, quality, and customer service. We are excited to collaborate with Radarview’s management team to better serve our customers’ current and future needs.”
Matt Gilbert, Founding Partner of GaP remarked, “Todd and StarLa Allen spent years building a great company, and we were honored they chose GaP to represent their interests in this endeavor. We were pleased GPRS saw what we saw and offered a complete package including competitive price, deal structure, cultural fit, ability to retain employees and customers, and ability to close in a timely and efficient manner. All of these factors worked together to make this transaction a ‘win’ for our client and their employees, customers, and vendors as well as for GPRS and their shareholders. The COVID-19 situation presented a unique set of challenges to the diligence process such as travel limitations and lenders/attorneys working remotely. However, all parties patiently worked together to close in a timely and efficient manner.”
ABOUT THE COMPANIES
Ground Penetrating Radar Systems
GPRS, headquartered in Toledo, Ohio, provides private utility locating and concrete scanning services to utilities, contractors, engineering firms, and environmental consultants in every major market in the United States. For over a decade, GPRS has been the industry leader by providing outstanding service and cutting-edge technology, keeping projects on time, reducing safety risks, and putting relationships with clients before profit.
Founded in the early 2000s, Radarview is a well-recognized, leading provider of concrete scanning and utility locating services in the Texas market while serving clients nationwide on a call-out basis. Radarview has a track record of high-quality work coupled with excellent customer service for engineering firms, utilities, and contractors who rely on its services to identify and map the presence of subsurface structures using ground penetrating radar and other locating techniques.
Kohlberg & Company
Kohlberg & Company is a long-established private equity firm with over 30 years of successful experience executing transformational strategies enabling middle market companies to enhance business efficiency, breadth, growth, and scale. A core tenet of the Firm’s success is the consistency with which the team executes optimization strategies across its portfolio. Since its inception, Kohlberg has made 82 platform investments and over 200 add-on acquisitions through 9 private equity funds, representing $20+billion in total transaction value.
GaP Business Advisors
Gilbert & Pardue Business Advisors (GaP) is a Houston-based business advisory firm serving lower middle market business owners from coast to coast through sell-side representation for Mergers & Acquisitions (M&A).
Matt Gilbert and Bret Pardue established GaP to provide owners of lower middle market and small businesses – those businesses generally enjoying annual revenue of $5-$75 million – with the quality of M&A representation and value-enhancement services previously only available to middle, upper middle, and large businesses. GaP brings highly-experienced executives, sophisticated financial and marketing products, proven-effective processes, and fully-integrated expertise to every engagement.
For more information, contact:
BretPardue, Founding Partner
MattGilbert, Founding Partner