“We chose to partner with Thayer | Hidden Creek because of their understanding of our business and ability to help us grow our company and improve our operations. Their experience, insight and strategic guidance has helped make us a global leader in our industry.”
– Sotirios Vahaviolos, Chairman, President and Chief Executive Officer, Mistras
Mistras Group, Inc. ("Mistras") is a leading global provider of non-destructive testing equipment and inspection and engineering services. Mistras’ products are used to verify the structural integrity of critical equipment, plant components, and industrial and public infrastructure. Major customers include large refineries, utilities and public works departments throughout the United States and globally. Mistras maintains its global presence with over 2,200 employees in 68 offices in 15 countries.
Thayer | Hidden Creek Value Add
Very early in the investment in Mistras, Thayer | Hidden Creek assisted the owner/CEO through a challenging integration period immediately following the acquisition of Conam Inspection. Following the Conam acquisition integration, Thayer | Hidden Creek worked with management to substantially enhance their internal systems and controls as well as strengthen the overall financial infrastructure to support future growth. Additionally, Thayer | Hidden Creek assisted Mistras in securing additional equity financing, refinancing its debt, completing numerous tuck-in acquisition, and recruiting of a President and Chief Financial Officer to deepen the management team.
Outlook
Thayer | Hidden Creek’s continues to work with Mistras to grow the business through a combination of accretive strategic acquisitions and organic initiatives. During the past four years, Mistras has enjoyed tremendous growth more than doubling its revenues and more than tripling its EBITDA. Market conditions should continue to be especially favorable in the test and measurement sector and Mistras will continue to leverage its industry leading technology to enhance its service offering globally. Notably, Mistras successfully completed an initial public offering of its common stock on the New York Stock Exchange in October 2009, and is currently listed under the ticker “MG”.
