CARBER Recapitalizes to Seize upon Growth Opportunities
December 20, 2010 Sarnia, Ontario, Canada – CARBER (“CARBER” or the “Company”), a leading provider of technical support and maintenance services to the petrochemical industry, announced today that Platte River Ventures, a Denver-based private equity group, has taken a controlling interest in the Company.
“This transaction and the opportunity it will afford our company to achieve its full potential is very exciting,” said Glenn Carson, President of CARBER. “Platte River Ventures will be a valuable partner for CARBER, and we are looking forward to working together in improving a great company.”
Peter Calamari, Managing Director of Platte River Ventures said, "We are excited about our new partnership with the management team of CARBER. The Company has industry-leading products and field technicians, as well as a commitment to increasing customer safety and efficiency, all of which made this an attractive investment for Platte River Ventures.”
CARBER was founded in 1995 in Sarnia, Ontario, Canada, to provide technical support and maintenance services to the petrochemical industry through a patented hydrostatic weld testing process and hydrostatic/hydrodynamic isolation capability. The Company has grown to become the leader in these services and has expanded to provide a broad range of technical services to its customers, including cold cutting and beveling, field machining, plain end testing, hot taps, line stops and controlled bolting. The Company has an active research and development program and continues to develop new tools and improved processes to better serve its customer base. CARBER has 18 locations in key markets in North America and elsewhere around the world that service the leading petrochemical operators, fabrication yards and pipeline contractors. For more information on CARBER, please visit www.carber.com.
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