As part of the acquisition, NavStar will join Terra Insights' other subsidiaries: RST Instruments, Measurand, 3vGeomatics and Syscom. "NavStar perfectly complements Terra Insights' vision of being the global platform to provide trusted geotechnical, structural, and geospatial monitoring technology and data delivery solutions," said Mark Price, CEO of Terra Insights. "NavStar's specialized expertise in automated deformation monitoring systems from both a hardware and software perspective expand Terra Insights' core capabilities while pushing us further into the future."
The Terra Insights platform possesses unparalleled geotechnical, structural and geospatial monitoring expertise, with over 300 employees including more than 100 degreed engineers and geoscientists. Together, they serve over 1,000 clients in 60 countries, with a network of over 30 global partners and professionals in Canada, the United States, the United Kingdom, Brazil, Singapore, Australia, South Africa and Switzerland.
"NavStar's product offering will continue to push Terra Insights further into data aggregation and monitoring and complement our existing portfolio of products and services. Our customers are looking for wholistic solutions and Terra Insights is the only player in the market that can provide a comprehensive suite of monitoring and data delivery solutions," said Yousaf Tahir, Vice President of Vance Street.
NavStar will continue to be led by Glen Bjorgan and Gene Sivorot. Going forward Glen and Gene will focus on developing new products and software, while supporting Terra Insights as it pushes further into data delivery solutions. They will be active members of Terra Insights' senior leadership team.
"When we first partnered with RST Instruments, they were largely focused on instrumentation and monitoring. Since then, we have developed new products, added adjacent monitoring services like InSAR and expanded into new geographies and end markets. These efforts resulted in Terra Insights becoming the market leader in providing mission critical data, analysis and monitoring solutions to its customers," said Grady Miller, Principal of Vance Street.
"NavStar is a great example of our strategy at Vance Street of partnering with best-in-class founder owned businesses to help enhance the technology solutions for their valued customers in critical markets and applications," said Steve Sandbo, Partner of Vance Street.
Davies Ward Phillips and Vineberg and O'Melveny & Myers acted as legal advisors to Vance Street Capital. Grant Thornton LLP and Montgomery Milles & Stone served as financial and legal advisors, respectively, to NavStar Geomatics. Debt financing for the transaction was provided by a lending syndicate led by Bank of Montreal including Canadian Western Bank and National Bank of Canada. Terms of the transaction were not disclosed.
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the industrial technology, medical, life science, aerospace and defense sectors. For over two decades, Vance Street's partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.
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SOURCE Vance Street Capital
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