Vance Street Capital Partners with Management to Acquire RST Instruments

9月 07, 2017


LOS ANGELES—September 7, 2017—O’Melveny advised Vance Street Capital, a Los Angeles-based private equity firm, on its deal to partner with management to acquire RST Instruments Ltd., a leading provider of complex geotechnical instrumentation and data systems.

The O’Melveny team was led by partners John Laco and Tom Baxter, counsel Sarah Hoffner and Reid Jason, and associates Niousha Rahbar and Joshua Chow. In addition, partners Luc Moritz and Bob Fisher provided tax advice.

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Emily Lattal
O’Melveny & Myers LLP

The following release was issued by Vance Street Capital:

Vance Street Capital Partners with Management to Acquire R.S.T. Instruments Ltd.

Third platform investment in Vance Street Capital’s Second Fund leverages the firm’s experience in highly-engineered sensor and electronics businesses

September 07, 2017 08:00 AM Eastern Daylight Time

Vance Street Capital LLC, a Los Angeles-based private equity firm, announced today it has partnered with management to acquire R.S.T. Instruments Ltd. (“RST”), a leading provider of complex geotechnical instrumentation and data systems, from Hammond, Kennedy, Whitney & Company, Inc.

Founded in 1977 and headquartered in Maple Ridge, British Columbia, RST designs and manufactures highly-engineered geotechnical instrumentation and data systems for applications where structural integrity must be assured. End use applications for RST’s products include critical structures such as bridges, hydroelectric dams, mines, railroads, airports, tailings dams, tunnels and highways.

RST’s products monitor, measure, log and transmit readings of geotechnical properties such as inclination, pressure, displacement and temperature so that customers can manage risks, increase productivity and reduce costs.

As part of the transaction, the RST management team will retain a material ownership stake in the business. “We look forward to partnering with Vance Street to further expand our global presence and continue to enhance the breadth of product solutions we provide to our customers,” said Bruce Ripley, CEO of RST Instruments. “Vance Street’s experience building precision manufacturing businesses through organic product innovation and sales channel management as well as strategic add-on acquisitions aligns well with our long-term growth objectives.”

“RST Instruments encompasses all of the traits we look for in highly-engineered manufacturing businesses. RST is a best in class provider in a fragmented niche market, it has a strong management team with a proven track record of consistent growth and product innovation, and is well positioned in an industry with strong tailwinds. We are excited to partner with RST’s excellent management team and to further the business’ position as the premier global provider of geotechnical instrumentation through organic growth and acquisitions,” said Brian Martin, Partner at Vance Street Capital.

O’Melveny & Myers LLP acted as legal advisor to Vance Street Capital. Quarton International and Taft Stettinius & Hollister LLP served as financial and legal advisors, respectively, to RST. Vance Street Capital partnered with Lexington Partners and funds advised by Neuberger Berman Private Equity, which co-invested equity alongside Vance Street in support of the transaction. Debt financing for the transaction was provided by BMO Capital Partners' Sponsor Coverage.

About Vance Street Capital LLC
Vance Street Capital is a Los Angeles-based private equity firm which invests in middle-market businesses in the medical, aerospace, defense and industrial sectors. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.


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