Atar Capital Acquires Team Inc. Energy DivisionThursday, December 22, 2016
Beverly Hills-based Atar Capital has acquired Furmanite’s Midstream Quality Assurance Business, a carveout from Tulsa’s Team Inc.
Furmanite, which has been rebranded by Atar as Frontier Integrity Solutions, inspects energy pipelines and other energy industry infrastructure components as an independent contractor.
Atar managing partner Cyrus Nikou said the private equity firm’s takeover would streamline the Frontier’s operations and lead to more growth.
“We have a clear path to grow this business organically, and our team is excited to help take this company to the next level,” Nikou said in a statement.
Terms of the deal, announced in a Thursday press release, were not disclosed.