Select TIC M&A Transactions


The Kleinfelder Group Acquires the Geotechnical, Environmental, and Testing Division of Advantage Engineers

  • The Geotechnical, Environmental, and Testing Division of Advantage Engineers is a leading provider of telecommunications engineering, geotechnical and environmental services in the Mid-Atlantic region.
  • The Kleinfelder Group is currently a portfolio company of Wind Point Partners.



Pace Analytical Services Acquires Shealy Environmental Services

  • Shealy Environmental Services is a leading provider of comprehensive analytical and biological services for industrial, environmental engineering and regulatory clients.
  • Pace Analytical Services is currently a portfolio company of Aurora Capital.



EN Engineering Acquires QC Data

  • QC Data is a leading engineering design firm offering construction planning, specialized drafting services and systems support.
  • EN Engineering is currently a portfolio company of Kohlberg & Co.



TRC Companies Acquires Environmental Partners

  • Environmental Partners is a leading provider of environmental assessment, remediation and liability management for industrial and commercial projects.
  • TRC Companies is currently a portfolio company of New Mountain Capital.



SPL Acquires Measurement Services Division of Banded Iron Group

  • The Measurement Services Division of Banded Iron Group is a Canada-based provider of laboratory and measurement services to oil and gas producers.
  • SPL is currently a portfolio company of Industrial Growth Partners.



FoodChain ID Acquires Diversified Laboratories

  • Diversified Laboratories is a leading analytical laboratory specializing in the detection of pesticide, chemical and quality measurements in food and animal feed products.
  • FoodChain ID is currently a portfolio company of Paine Schwartz Partners.



Trinity Consultants acquires WorkingBuildings

  • WorkingBuildings is a leading provider of commissioning, related engineering, support programing and operational services for complex facilities.
  • Trinity Consultants is currently a portfolio company of Levine Leichtman Capital Partners.

Key Takeaways from HW North American TIC White Paper

Companies in the TIC sector provide a wide range of essential services, from auditing and inspection to testing, verification, quality assurance and certification. The segment is broad and diverse, spanning virtually every industry, which presents a host of opportunities for potential investors.

The growth of the $60 billion TIC sector will be fueled by an increasing focus among businesses and government agencies on ensuring everything consumers use—from critical infrastructure and industrial processes to food and electronic devices—meets required standards and regulations in terms of quality, health and safety, environmental protection, and social responsibility.

In this new report, Harris Williams provides an overview of the North American TIC sector, a view of the current market landscape and its ongoing evolution, and key considerations for strategic buyers and financial investors.

Opportunities in Testing, Inspection and Certification

  • Key North American TIC market segments—key services, size, growth drivers and outlook
  • Addressable market size, growth drivers and outlook
  • Recent trends in M&A focus for strategic buyers and financial investors
  • Segment taxonomy and M&A history
  • Public and private companies in market landscape


TIC Public Company Valuations1


TIC Public Company Benchmarking1


Harris Williams Overview

Global Advisory Platformscreen_shot_2020-01-15_at_4.13.33_pm.png

  • Founded in 1991
  • 370+ professionals across eight offices globally
  • 170+ closed transactions in the last 24 months
  • 10 dedicated industry groups

HW Testing, Inspection & Certification Sector Focus Areas

Buildings & Infrastructure

  • Design Review
  • Commercial, Residential and Civil Inspection
  • Project and Construction Management
  • Construction Materials Testing
  • Structure Integrity Analysis


  • Product Failure Analysis
  • Environmental Impact Testing
  • Consumer Products Testing
  • Trade Certification and Auditing
  • Expert Witness Services

Energy / Oil & Gas

  • Oil, Fuel, Liquids and Chain of Custody Testing
  • Energy Infrastructure Inspection and Testing
  • Integrity Management
  • Corrosion Monitoring
  • Production Analytics and Measurement


  • Stormwater Management
  • Emissions Monitoring and Testing
  • Soil, Water and Air Testing
  • Environmental Consulting
  • Industrial Hygiene

Food & Agriculture

  • Pesticide, Soil and Seed/Crop Testing
  • FDA Audit and Compliance
  • Chemical and Nutritional Testing
  • Food Production Assessments
  • Food Contaminant Testing

Life Sciences

  • Pharmaceuticals Testing
  • Medical Device Testing
  • Ecological Toxicology
  • Residue and Analytical Chemistry
  • Soil, Plant and Animal Metabolism

Power & Utilities

  • T&D Inspection and Testing
  • Electrical Inspection and Testing
  • Renewables Testing and Inspection
  • In-Plant Inspection
  • Reliability Services

Transportation & Aerospace

  • Supplier and Supply Chain Audits
  • Third-Party Assessments
  • Performance Management Services
  • Aerospace and Automotive Parts Testing
  • Manufacturing Inspection

Select Recent HW TIC Transactions


Select HW TIC Transactions


Our Firm

Harris Williams has a broad range of industry expertise, which creates powerful opportunities. Our clients benefit from our deep-sector experience, integrated industry intelligence and collaboration across the firm, and our commitment to learning what makes them unique. For more information, visit our website at

Industry Group Expertise

Harris Williams Office Locations

United States

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Phone: +1 (617) 482-7501

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Phone: +1 (612) 359-2700

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1. CapIQ


The information and views contained in this report were prepared by Harris Williams LLC (“Harris Williams”). It is not a research report, as such term is defined by applicable law and regulations, and is provided for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities or financial instruments or to participate in any particular trading strategy. The information contained herein is believed by Harris Williams to be reliable but Harris Williams makes no representation as to the accuracy or completeness of such information. Harris Williams and/or its affiliates may be market makers or specialists in, act as advisers or lenders to, have positions in and effect transactions in securities of companies mentioned herein and also may provide, may have provided, or may seek to provide investment banking services for those companies. In addition, Harris Williams and/or its affiliates or their respective officers, directors and employees may hold long or short positions in the securities, options thereon or other related financial products of companies discussed herein. Opinions, estimates and projections in this report constitute Harris Williams’ judgment and are subject to change without notice. The securities and financial instruments discussed in this report may not be suitable for all investors and investors must make their own investment decisions using their own independent advisors as they believe necessary and based upon their specific financial situations and investment objectives. Also, past performance is not necessarily indicative of future results. No part of this material may be copied or duplicated in any form or by any means, or redistributed, without Harris Williams’ prior written consent.

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