Operating Company Energy

SPL

Houston, Texas, United States

SPL provides compliance and testing services for Environmental, Energy, and other end markets. Through ISO/NELAP-certified labs, verifiable test methods, and laboratory, metrology, and data-management services, SPL helps clients track and optimize operations.

Focus Areas
Laboratory testing (ISO/NE LAP, NELAP), Metrology / calibration, Data management for laboratory and metrology
Website
spllabs.com

Tracked deals

8

8 tracked deals across 2019-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Addon

7 addon · 1 buyout

SPL Acquisition Volume by Year

Last 7 years

Acquisition volume by year Annual acquisition counts for the last 7 years for SPL. 1 2018 1 2019 1 2021 1 2022 2 2023 1 2024 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    SPL, Sentinel Capital Partners
    Target
    North Water District Laboratory Services, Inc. (NWDLS)
    Seller
    Monica Martin (Chief Executive Officer and Managing Partner of NWDLS), Robert McCoy (former owner of NWDLS)
    Type
    Buyout

    North Water District Laboratory Services, Inc. (NWDLS) was sold to SPL, a portfolio company of Sentinel Capital Partners. The deal’s financial terms were not disclosed. NWDLS provides environmental laboratory testing and analytical services for municipal utility districts, engineering firms, industrial customers, and government entities in Texas.

  • Buyer
    SPL
    Target
    DHL Analytical
    Seller
    Dr. Derhsing Luu
    Type
    Addon

    SPL, a Sentinel Capital Partners-backed provider of environmental and compliance testing services, has acquired DHL Analytical, an environmental laboratory based in Austin, Texas. The acquisition is an add-on to SPL's platform and expands its environmental testing capabilities in the Austin area to serve the emerging technology manufacturing sector, municipalities/utilities, and other industrial end markets.

  • September 11, 2023
    Buyer
    SPL Inc.
    Target
    Volumetrics
    Location
    United States
    Type
    Addon

    SPL Inc., a Sentinel Capital Partners–backed provider of testing, inspection and calibration services, has acquired Volumetrics, a specialist in flow meter verification and fiscal loss mitigation. The deal expands SPL’s mobile flow laboratory footprint across North Dakota, Wyoming, Colorado, Texas and New Mexico and adds metrology and data capabilities to its Metrology Division.

  • Buyer
    SPL
    Target
    Ana-Lab Corporation
    Type
    Addon

    SPL, a Sentinel Capital Partners‑backed testing, inspection and certification (TIC) provider headquartered in The Woodlands, Texas, has acquired Ana-Lab Corporation, an environmental laboratory testing company. The deal adds nine locations (including a Kilgore technology center and an Austin service center), expands SPL's environmental testing capabilities (including PFAS analysis under EPA UCMR5) and brings additional trained technicians to SPL's national footprint.

  • Buyer
    SPL, Inc., Industrial Growth Partners
    Target
    Oxidor Laboratories
    Type
    Addon

    SPL, Inc., a Houston-based testing, inspection, and certification (TIC) company and portfolio company of Industrial Growth Partners, has acquired Oxidor Laboratories to expand its environmental testing capabilities. The acquisition adds wastewater and chemical analysis services (including over 300 test types) and broadens SPL's ability to serve industrial, municipal, and governmental clients.

  • Buyer
    SPL, Inc., Industrial Growth Partners
    Target
    AFS (Assured Flow Solutions)
    Industry
    Energy
    Type
    Addon

    SPL, Inc., a Houston-based testing, inspection and certification (TIC) platform backed by Industrial Growth Partners, has acquired AFS (Assured Flow Solutions). The add-on expands SPL’s laboratory testing, software and tech-enabled consulting capabilities — particularly in flow assurance, asset integrity and ESG — and broadens its footprint in Houston, Denver, Europe and Asia-Pacific.

  • Buyer
    SPL Inc., Industrial Growth Partners
    Target
    Banded Iron US Inc. (laboratory & measurement services business)
    Seller
    Banded Iron US Inc.
    Industry
    Energy
    Type
    Addon

    SPL Inc., a Houston-based testing, inspection and certification (TIC) platform backed by Industrial Growth Partners, acquired the laboratory and measurement services business of Banded Iron US Inc. The add-on expands SPL's lab footprint and measurement capabilities across key U.S. energy markets (including Wyoming, New Mexico, Colorado and North Dakota) and adds new testing technology such as flash liberation testing.

  • Buyer
    SPL, IGP (Industrial Growth Partners)
    Target
    Atchafalaya Measurement, Inc. (AMI)
    Industry
    Oil & Gas
    Type
    Addon

    SPL, a portfolio company of Industrial Growth Partners (IGP), has merged with Atchafalaya Measurement, Inc. (AMI) to combine field measurement, meter equipment installation, instrumentation/automation and hydrocarbon laboratory analysis. The combination expands SPL's geographic footprint across major U.S. oil and gas plays, enables service-line cross-selling, and integrates AMI's recurring measurement capabilities into SPL's data analytics platform; AMI President Nick Trahan will continue in his role.

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