Mistras Group, 195 Clarksville Road, Princeton Junction 08550. 609-716-4000. Dennis Bertolotti, CEO. www.mistrasgroup.com.
Mistras Group, the West Windsor-based provider of technology-enabled equipment to test and monitor the structural integrity of infrastructure, has acquired Calgary, Canada-based Onstream Pipeline Inspection Services Inc.
Mistras paid $143 million to Novacap, a private equity firm, in exchange for 100 percent of Onstream’s stock. Onstream specializes in tools for inline inspection and data analytics for pipelines up to 20 inches in diameter. In a statement, Mistras CEO Dennis Bertoloti said: “The acquisition of Onstream is an ideal opportunity to diversify our business. It will enable us to leverage our strength in the midstream market and accelerate our growth by accomplishing our strategic initiative to add a pipeline integrity pillar to our service portfolio.”