April 17, 2013 Share Print
Pine Environmental Services LLC Announces Acquisition of Ashtead Technology’s North American Instrument Division

Briarcliff Manor, New York, April 17, 2013 – Pine Environmental Services LLC (“Pine”), a portfolio company of Saw Mill Capital LLC, recently acquired Ashtead Technology’s North American Instrument Division (“Ashtead”), a leading competitor in the rental market for environmental testing, non-destructive testing / remote visual inspection (“NDT / RVI”), and continuous emissions monitoring systems (“CEMS”) equipment. The terms of the transaction have not been disclosed.

Scott Rivard, a Principal at Saw Mill Capital, said, “Ashtead provides the unique opportunity to accelerate our growth in our core environmental testing market while providing access and growth opportunities in the attractive NDT/RVI and CEMS markets.”

“This acquisition will expand Pine's portfolio of NDT / RVI and CEMS products, while increasing its market share in Pine’s environmental market,” commented Roger Pinheiro, Pine’s Co-Founder. “The combined Pine-Ashtead company will deepen its relationships with its large environmental consulting and non-destructive testing customers and will strengthen its position as a preferred industry vendor,” added Angelo Pinheiro, Pine’s CoFounder.

Pine Environmental Services LLC
Headquartered in Windsor, NJ, Pine Environmental Services LLC is a provider of environmental test & measurement equipment, offering a full suite of solutions to its customers, including rentals, sales, and services.

Headquartered in Houston, TX, Ashtead is a leading provider of rental equipment serving the environmental, NDT / RVI, and CEMS end markets. Ashtead serves leading customers in each of its end markets through a national network of seventeen rental locations.

About Saw Mill Capital LLC
Based in Briarcliff Manor, NY, Saw Mill Capital LLC is an operations-oriented private equity firm focused on acquiring businesses with $40-150 million in revenues that can be meaningfully grown organically and through acquisitions. Saw Mill Capital partners with senior leadership teams to make control investments in businesses headquartered in North America. Saw Mill brings capital and unique resources to help companies reach their full potential by working collaboratively with senior leadership to create effective business strategies, implement best practices, and provide global market expertise.