{"id":6870,"date":"2016-03-22T00:00:00","date_gmt":"2016-03-22T04:00:00","guid":{"rendered":"https:\/\/livingstagenew.wpenginepowered.com\/transaction\/livingstone-delivers-again-for-premium-inspection-testing\/"},"modified":"2026-07-24T14:46:03","modified_gmt":"2026-07-24T18:46:03","slug":"livingstone-delivers-again-for-premium-inspection-testing","status":"publish","type":"transaction","link":"https:\/\/livingstonepartners.com\/nl\/transaction\/livingstone-delivers-again-for-premium-inspection-testing\/","title":{"rendered":"Livingstone delivers again for Premium Inspection & Testing"},"content":{"rendered":"\n

Livingstone\u2019s debt advisory team is pleased to announce the closing of a new expanded credit facility for Premium Inspection & Testing Inc., a portfolio company of Calvert Street Capital Partners. First Midwest Bank and Patriot Capital provided the financing to support the Company\u2019s recapitalization of Capitol Ultrasonics LLC.<\/strong><\/p>

Premium Inspection is a nondestructive testing (\u201cNDT\u201d) and inspection services business operating primarily in the midstream oil and gas and diversified industrials sectors. Capitol Ultrasonics is a locally owned and operated nondestructive examination company based in Baton Rouge, LA, which focuses on the downstream oil and gas sector. The combination of the two companies will further Calvert Street\u2019s initiative to build a world-class testing and inspection business serving diverse end-markets.<\/p>

\u201cOnce again, Livingstone\u2019s team produced an excellent outcome for Premium Inspection,\u201d<\/em> commented Calvert Street Capital Partners principal Matt McLain<\/strong>. \u201cBy securing a lending group that understands our company\u2019s attractive position within in the broader energy space, we were able to put in place a combined financing structure that expands Premium Inspection\u2019s presence into the refining and petrochemical markets.\u201d<\/em><\/p>

Tom Lesch<\/strong><\/a>, Livingstone\u2019s debt advisory Partner,<\/strong> elaborated on the complexity of sourcing debt capital in today\u2019s oil and gas market. \u201cGiven the headwinds affecting much of the oil and gas sector, lenders have pulled back significantly in this space. By reaching out to the appropriate lender groups and effectively articulating our clients\u2019 market position and growth opportunities, we have been able to produce successful outcomes for clients across the middle market.\u201d<\/em><\/p>

This marks Livingstone\u2019s fifth successful transaction for Calvert Street Capital Partners and the firm\u2019s second acquisition financing raised specifically for Premium Inspection & Testing Inc. The firm\u2019s debt advisory team announced a first round of acquisition financing for Premium Inspection in May while Livingstone\u2019s Industrial team advised on the sale of precision grinding manufacturer Abrasive Form to Calvert Street Capital Partners in October of 2015.<\/p>

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