Mistras Group
Mistras Group, a leading one-source global provider of technology-enabled asset protection solutions, recently positioned itself to break into the offshore market of the oil, gas and petrochemical industry by acquiring The Nacher Corp.
“Nacher is an exciting addition to our team, enabling Mistras Group to break into a robust offshore market that includes more than 3,800 offshore platforms in the Gulf Region alone, along with fabrication facilities that support the rigs and platforms,” President and CEO Dr. Sotirios Vahaviolos said in a press release. “The addition of Nacher allows us to address the upstream operations of our major integrated energy customers where we are currently providing services for their mid and/or downstream operations.”
The Princeton Junction, N.J.-based company specializes in critical asset protection solutions that include 24/7 online monitoring, non-destructive testing services and data warehousing inspection software for its many clients. Mistras serves nearly all industries that require non-destructive testing, says Tom Bull, the national business development manager of Mistras’ pipeline division.
Mistras serves oil and gas, public infrastructure, chemical, aerospace and defense, power generation, transmission and distribution, industrial, pharmaceutical and food processing clients. “Given the role our services play in ensuring the safe and efficient operation of infrastructure, we have historically provided a majority of our services to our customers on a regular, recurring basis,” the company adds.
For more than 40 years, Mistras has increased its activities in the pipeline industry to meet the ongoing demand within this sector. The demand for pipeline inspection is high because, including those in natural gas fields, the United States has more rigs at work than the entire rest of the world, according to the company.
Ideal Locations
Mistras serves midstream clients in various shale plays across North America, predominately focusing on the Marcellus and Utica shales in the eastern United States, the Eagle Ford Shale in Texas, and the Bakken formation in Montana and North and South Dakota. Both Eagle Ford and Bakken are attracting much new activity and are rich in liquids, the company says.
According to the Mistras, while the Bakken and Eagle Ford locations are remote and sometimes challenging, the same Mistras resources are still abundant and accessible. And by always having a Mistras location nearby, the local presence and service is always readily available.
Acquiring Opportunities
Nacher provides comprehensive turnkey maintenance and inspection services to the oil, gas and petrochemical industry, primarily on offshore platforms. The Youngsville, La.-based company has become a leader in the offshore maintenance industry by partnering with customers to deliver creative, innovative and safe solutions using state-of-the-art technology, equipment and skilled personnel. Nacher has multiple offices in Louisiana to service offshore customer assets located in the Gulf Region and the Pacific Coast.
The company services less than five percent of its addressable market and has ample room for growth, Mistras says. Mistras acquired Nacher in August to not only gain market share in its core business, but because Nacher will also provide the company with important customer-driven cross-selling opportunities, including offering traditional and advanced non-destructive testing services, enterprise-based inspection data management software and remote online asset integrity monitoring systems.
Mistras will also offer the Asset Integrity Management Services engineering programs that include process engineering, mechanical integrity services and fitness for service assessments, including materials evaluations. These products, systems and services have been identified by customers as solutions that are highly desirable to safely maintain the operating integrity of their offshore assets, Mistras says.
“What is most important is the fact that the values and culture of the Nacher team are totally aligned with those of Mistras,” Vahaviolos says. “Both companies place the utmost value upon relationships with their customers and employees and do their utmost to safely provide an extensive range of asset protection services at a competing value.”
Moving forward, Mistras plans to continue to grow with the midstream sector, allowing it to develop and expand its business over the next five to 10 years throughout this industry. “Our main challenge over the next few years will be to keep up with the ongoing demand that comes along with the various shales emerging across the United States,” Bull says. “But as our many locations grow and expand, we will be able to continue providing high-quality and reliable equipment, skilled manpower and our excellent safety record to all of our clients, nationwide.”