PRINCETON JUNCTION, N.J., Sept. 04, 2019 (GLOBE NEWSWIRE) -- MISTRAS Group (MG) – a leading, “one source” global provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure – is pleased to announce the acquisition of New Century Software, a leading provider of pipeline integrity management software and services to energy transportation companies.
Founded in 1994, New Century is headquartered in Fort Collins, Colorado. New Century provides software solutions, data management expertise, and extensive pipeline experience to enable a global network of customers in the oil and gas industry to manage pipeline integrity, meet regulatory compliance, and maximize safety and reliability.
New Century’s pipeline integrity management software suite synergistically complements the facility data management capabilities offered by MISTRAS’ Plant Condition Management Software (PCMS), both of which have served the global oil & gas marketplace for decades. New Century’s strategic alignment with recent MISTRAS acquisition Onstream Pipeline Inspection will enable deep integration of inline inspection (ILI) big data with real-time risk analytics and business intelligence (BI) to provide unmatched capabilities for supporting pipeline integrity. This acquisition aligns with MISTRAS’ mission of delivering value-added, integrated, smart data solutions to its customers. Between PCMS, New Century’s software, Onstream’s advanced pipeline integrity capabilities, and MISTRAS’ robust non-destructive testing (NDT) inspection toolbox, the Company is enabling seamless interoperability by integrating its asset integrity portfolio to provide midstream customers with the most comprehensive, data-driven pipeline protection solution ever made available to the industry.
“We’re excited to add the New Century team and their unique and advanced solutions to our pipeline integrity portfolio, which we’ve identified as one of the pillars of our growth strategy,” said Dennis Bertolotti, MISTRAS Group President and Chief Executive Officer (CEO). “With this acquisition, we’re streamlining our customers’ paths towards safe operations and regulatory compliance, by providing integrated services, inspection equipment, and software from beginning to end of the midstream value chain.”
Financial terms of the transaction were not disclosed. The Company funded the acquisition with cash on hand.
About MISTRAS Group, Inc.
MISTRAS is a leading “one source” global provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure. MISTRAS combines our industry-leading services, products, and technologies to provide a unique, custom-tailored solution for each customer’s individual asset protection need.
Our asset protection portfolio includes field and laboratory inspections & testing; engineering services for asset integrity management; maintenance and light mechanical services; online asset-condition monitoring services; and manufacturing of inspection and monitoring equipment. Data from these solutions is centralized in MISTRAS’ world-class inspection data management software – PCMS – to provide our clients with integrated, comprehensive asset protection from a single provider.
Nestor S. Makarigakis, Group Director of Marketing Communications