MAY RIVER CAPITAL COMPLETES SALE OF NSL ANALYTICAL SERVICES
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CHICAGO, June 28, 2024 ~ May River Capital, a private equity firm, has announced that its portfolio company NSL Analytical Services (NSL) has been acquired by Levine Leichtman Capital Partners (LLCP). This acquisition comes after May River's initial purchase of NSL in January 2020.

Since the acquisition, May River and NSL management have worked together to drive significant organic growth in the business through targeted initiatives. These include investing in talent development within the organization, with approximately 20 team members being promoted or recruited. Additionally, NSL has expanded its services offering under the leadership of technical expert Dr. Ed Herderick. The company has also made critical investments to support scalability, such as moving its metallurgical lab to a larger and more modern facility. These efforts have solidified NSL's reputation as a leading provider of advanced materials testing services within key markets.

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Ron Wesel, CEO of NSL, expressed his gratitude to their loyal customers, dedicated team, and partners at May River for their support in positioning the company for continued success. He believes that this new partnership with LLCP will further drive growth and enhance their reputation as a trusted provider of quality assurance testing services worldwide.

Pat St. John, Managing Director at May River, commended NSL and its team for their achievements under May River's ownership. He noted that these strategic efforts have resulted in impressive growth and established NSL as a reliable supply chain partner for mission-critical industries. St. John also highlighted LLCP's investment approach as a perfect fit for NSL and believes that their experience will be instrumental in helping the company execute its growth plans and deliver enhanced value to clients.

KPMG Corporate Finance LLC served as financial advisor and Paul Hastings LLP served as legal advisor to May River and NSL during this transaction.

This acquisition marks an exciting new chapter for NSL Analytical Services as they continue to expand their capabilities and provide top-notch testing services to clients worldwide. With the support of LLCP, NSL is well-positioned for future growth and success.

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