Industrial sensors industry veterans, Karmjit Sidhu and Jon Tebol (“ST Sensors”), along with Main Street Capital Corporation (NYSE:MAIN) and ASK CEO, Wes Kimbell, are pleased to announce they recently purchased Analytical Applied Solutions, LLC (d/b/a Analytical Systems KECO) from its founder, Tom Kimbell. ST Sensors plans to expand the business organically through internal growth and globalization of its operations, as well through effecting acquisitions of other complementary companies in the industrial sensors, instruments and controls sector.
Analytical Systems KECO (the “Company”) is a leading provider of electro chemical industrial sensor systems used in the measurement of gas and liquids involving toxic, hazardous or otherwise undesirable substances and contaminants such as H2S, CO2, total sulfur, hydrocarbons and oil, and various volatile organic compounds (VOCs). Its analyzers are used in industrial processes and environmental monitoring applications in industries such as oil and gas pipelines, water and wastewater processing, chemicals and refining, environmental air and water quality, analytical laboratories, food and beverage, and landfill and biogas management. The Company’s website (www.liquidgasanalyzers.com) provides additional descriptive information about the Company.
The Company specializes in providing products to the high performance, mission critical end of the market where they are known for their combination of high precision, stable calibration, and high speed, in-line performance. Customers of the Company are leaders among their industries and include Chevron, Exxon Mobil, Suez Water, Kinder Morgan, Koch Pipeline, Siemens, Florida Power & Light, and Teledyne, among others.
Main Street Capital Corporation (NYSE: MAIN) is a $4.4 billion publicly-traded investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street was founded in 1995 and based in Houston, TX.
ST Sensors is the acquisition platform of industrial sensing and control executives, Karmjit Sidhu and Jon Tebol. Karmjit has been a serial entrepreneur in the industrial sensing industry for over 30 years, including serving as co-founder of American Sensor Technologies (“AST”), a business that he and Mr. Tebol sold to $30 billion TE Connectivity (NYSE: TEL) in 2014. Subsequent to the sale of AST to TE, Mr. Sidhu became Global Head of Business Development of TE Connectivity’s $800 million industrial sensors unit. Mr. Tebol has also had a 25-year tenure within the industry as an investment banker and strategic advisor assisting dozens of companies in the industrial sensing and controls sector in connection with the sale, financing, or recapitalization of their businesses. ST Sensors is an affiliate of Daybreak Capital Partners, a specialty investment banking firm predominately serving companies in the middle and lower middle markets (www.DaybreakCapital.com).