Atar Capital, a global private investment firm based in Los Angeles, has successfully sold Frontier Integrity Solutions (FIS) through a management buyout. This sale concludes a transformative nine-year partnership that elevated FIS as a prominent provider of pipeline inspection and integrity services for the midstream energy sector.
The management buyout ensures a seamless transition for FIS, allowing the company to continue delivering critical services while positioning both Atar Capital and FIS for future growth. “This transition represents an exciting new chapter for Frontier Integrity Solutions,” stated Keyth Pengal, chief executive of FIS. He emphasized the company’s commitment to maintaining the integrity of North America’s essential pipeline infrastructure.
Cyrus Nikou, founder and managing partner of Atar Capital, expressed confidence in FIS’s future under its management. He acknowledged the accomplishments over the past nine years, highlighting the importance of protecting the infrastructure that powers the United States.
FIS, headquartered in Tulsa, Oklahoma, serves major players in the energy industry by offering precision inspection services, detailed project tracking, and comprehensive quality assurance solutions. Since acquiring FIS from Furmanite America Inc. in December 2016, Atar Capital has overseen substantial operational enhancements. These improvements include the introduction of advanced tracking and compliance systems, expansion of the professional workforce, and strengthened relationships with key industry clients.
With nearly 800 certified inspectors and specialists and over 40 years of experience, FIS has become an indispensable partner for energy companies, ensuring the safety and reliability of oil and gas pipeline infrastructure across the U.S. Under Atar Capital, the company has successfully navigated the complexities of the energy sector, enhancing its operational efficiency and service delivery.
Atar Capital’s leadership team has a proven track record, having completed approximately 90 private equity transactions across 18 countries. The firm specializes in acquiring lower middle market businesses that show potential for growth and revitalization. It supports these businesses in improving their operations and financial performance by leveraging its resources and expertise.
The successful management buyout of FIS marks a significant milestone not only for Atar Capital but also for the evolving landscape of the midstream energy sector. As both entities prepare for their next phases, the focus remains on sustaining the critical services that underpin North America’s energy infrastructure.
