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Aurora Capital Partners Completes Sale of National Technical Systems to Element Materials Technology GroupLOS ANGELES, Sept. 27, 2022 /PRNewswire/ -- Aurora Capital Partners ("Aurora"), a leading middle-market private equity firm, announced today the closing of the sale of National Technical Systems ("NTS" or the "Company"), the leading independent provider of qualification testing, inspection, and certification solutions in North America, to Element Materials Technology Group ("Element"), a global provider of testing, inspection, and certification services. Financial terms of the transaction were not disclosed. Since 1961, NTS has built the broadest geographic presence in the United States, offering more than 70 distinct product qualification testing categories and related capabilities, including climatic, structural, dynamics, fluid flow, EMI/EMC, lightning, product safety, acoustics, failure analysis, chemical, and other industry-specific tests. With a geographically diverse footprint comprising 29 technologically advanced testing laboratories, NTS facilities are in close proximity to its more than 8,000 clients, allowing NTS to serve the nation's most innovative companies with industry-leading accessibility and responsiveness. "NTS's durable long-term growth is testament to their industry reputation and unique market position, both of which were furthered by an active add-on acquisition program," said Randy Moser, Partner at Aurora. "By focusing on expanding the Company's suite of services and geographic breadth while maintaining exceptional customer service, we were able to strengthen NTS's leadership position and deliver an unparalleled value proposition to its customers. Element represents an ideal strategic partner for the Company in its next phase of growth, and we look forward to watching its continued success." "We thank Aurora for their guidance, partnership, and strategic and financil support," said Ray Milchovich, CEO of NTS. "Working with Aurora, we have dramatically expanded the scope and geographic reach of our testing capabilities and have delivered high-quality certification services to a wide range of customers. From day one, Aurora recognized the critical nature of our offerings, and worked tirelessly to support our growth and strengthen our processes. We look forward to continuing our expansion through our partnership with Element to deliver our solutions to even more customers globally." Houlihan Lokey served as financial advisor and Gibson, Dunn & Crutcher LLP and DLA Piper LLP served as legal advisors to NTS in the transaction. About National Technical Systems About Aurora Capital Partners Media Contacts: View original content:https://www.prnewswire.com/news-releases/aurora-capital-partners-completes-sale-of-national-technical-systems-to-element-materials-technology-group-301633973.html SOURCE Aurora Capital Partners |