Odyssey Investment Partners Portfolio Company Applied Technical Services Expands Market-Leading Client Service Offerings Through Continued M&A Activity

Marks 22 Strategic Acquisitions Completed Under Odyssey’s Ownership

NEW YORK & MARIETTA, Ga.--(BUSINESS WIRE)--Odyssey Investment Partners, LLC (“Odyssey”), a growth-oriented middle-market private equity firm, today announced that its portfolio company Applied Technical Services, LLC (“ATS” or the “Company”) has continued its strong M&A momentum with three strategic acquisitions to further expand its market-leading client service offerings:

• Process Instruments LLC (“PI”), a provider of high-end instrument calibration services, with a focus on global customers in highly regulated end markets;
• Instrumentation Technical Services LLC (“ITS”), a provider of calibration and metrology services to pharmaceutical, food and aerospace end markets; and
• Accu-Chek (“AC”), a provider of calibration and dimensional inspection services to automotive, medical and aerospace end markets.

The additions of PI, ITS and AC reflect ATS’ focus on acquiring leading metrology labs to enhance the Company’s service offering to its national customer base and further expand its footprint in regulated, high-growth end markets, such as life sciences, food, medical and aerospace.

ATS, which has now completed 22 strategic acquisitions since Odyssey’s investment in December 2020, recently organized its service lines within three key reporting segments: Testing, Inspection and Certification & Compliance (“TICC”). This strategic alignment allows the Company to integrate its offerings to best serve customers across a wide range of testing and inspection needs. ATS remains well positioned to become a technical and customer-focused leader across all of its operating segments:

• Testing (3 Acquisitions Completed since Odyssey’s Investment): Ensures the quality, safety, and compliance of customer’s products during the design, production and operating stages of their lifecycles
• Inspection (8): Measurement and engineering support for complex infrastructure to assist with regulatory compliance, safety and internal maintenance
• Certification & Compliance (11): Accredited laboratories to assist customers in the calibration and repair of instrumentation to ensure precise measuring and reporting capabilities

Jason Cowett, a Managing Principal at Odyssey, said, “We are very pleased by ATS’ significant achievements over the past two years. The Company has meaningfully grown its suite of solutions while continuing to deliver exceptional service tailored to customers’ needs. We look forward to supporting ATS’ continued growth as they pursue a number of attractive growth opportunities.”

“We are thrilled to welcome all three recent acquisitions to the ATS Family of Companies and believe they will provide exciting new resources to our portfolio of services and solutions,” said Mike McIlwain, CEO of ATS. “Our leadership team is grateful for Odyssey’s support and expertise while we continue to consistently provide the highest quality services to our clients. We are very enthusiastic about ATS’ future and the contributions we will make to our customers’ success as we continue to fulfill our purpose of creating a safe and reliable world.”

About Applied Technical Services
Applied Technical Services, LLC is a leading provider of critical testing, inspection, certification, and compliance services. The Company serves clients across a diverse set of large and stable end markets including manufacturing, power generation, aerospace, medical, and defense. Its market leading service offerings include materials testing, environmental simulation, chemical analysis, calibration, non-destructive inspection, forensics, and consulting engineering. ATS is headquartered in Marietta, GA and employs approximately 1,700 team members in over 60 locations across the United States. For further information about ATS, please visit www.atslab.com.

About Odyssey Investment Partners
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.

Media
Mark Semer / Grace Cartwright
Gasthalter & Co.
(212) 257-4170
odyssey@gasthalter.com