Atar Capital, a Los Angeles-based global private investment firm, has successfully completed a management buyout of Frontier Integrity Solutions (FIS), concluding a transformative nine-year partnership. This strategic move positions FIS for continued growth as a prominent provider of pipeline inspection and integrity services within the midstream energy sector.
The management buyout ensures the continuity of FIS’s essential services, vital for the integrity of North America’s pipeline infrastructure. In a statement, Keyth Pengal, Chief Executive of FIS, expressed enthusiasm for this new chapter, stating, “As we enter this next phase, we’re committed to maintaining the integrity of North America’s critical pipeline infrastructure.”
Atar Capital’s founder and Managing Partner, Cyrus Nikou, highlighted confidence in FIS’s future under management’s ownership. He emphasized the accomplishments achieved over the past nine years, which have been instrumental in “protecting the critical infrastructure powering” the United States.
Headquartered in Tulsa, Oklahoma, FIS serves major players in the energy industry, providing precision inspection services, detailed project tracking, and comprehensive quality assurance solutions. Atar Capital acquired FIS from Furmanite America Inc. in December 2016. Since then, FIS has grown to include nearly 800 certified inspectors and specialists, cementing its role as an essential partner for major energy companies across the U.S.
Under Atar Capital’s stewardship, FIS has undergone significant operational enhancements. These improvements included the implementation of advanced tracking and compliance systems, expansion of its professional workforce, and strengthened relationships with key industry customers. The firm’s commitment to enhancing operational efficiency has solidified FIS’s status as a leader in midstream quality assurance services, ensuring the safety and reliability of oil and gas pipeline infrastructure.
Atar Capital has a robust track record, having completed a total of 90 private equity transactions across 18 countries. The firm is recognized for its focus on acquiring lower middle-market businesses with strong potential for growth and revitalization. Their approach encompasses not only business growth but also operational and financial performance improvements, leveraging the expertise of Atar’s leadership and its network of seasoned senior advisors.
This latest transaction marks a significant milestone for both Atar Capital and Frontier Integrity Solutions, as they embark on new endeavors to enhance their respective missions in the energy sector.
