Who owns ONSTREAM PIPELINE INSPECTION?

ONSTREAM PIPELINE INSPECTION has been 100% owned by MISTRAS GROUP since February 2019.

At what enterprise value was ONSTREAM PIPELINE INSPECTION acquired in 2019?

During the acquisition of ONSTREAM PIPELINE INSPECTION by MISTRAS GROUP in 2019, the transaction's Enterprise Value is estimated to be in the range of 100M - 350M USD.

What was the EV/EBITDA of ONSTREAM PIPELINE INSPECTION when it was acquired by MISTRAS GROUP?

The estimated EV/EBITDA multiple for ONSTREAM PIPELINE INSPECTION is in the range of 10x - 18x.

What was the revenue of ONSTREAM PIPELINE INSPECTION at the time of the deal?

The revenue of ONSTREAM PIPELINE INSPECTION at the time of the deal is estimated to be in the range of 10M - 30M USD.

What was the EBITDA of ONSTREAM PIPELINE INSPECTION during the acquisition?

ONSTREAM PIPELINE INSPECTION's EBITDA is estimated to be in the range of 5M - 25M USD.

How is the data for the ONSTREAM PIPELINE INSPECTION acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ONSTREAM PIPELINE INSPECTION deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.rwbaird.com/transactions/investment-banking/dealcard/5319/

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

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Home Database Business ServicesONSTREAM PIPELINE INSPECTION

02/2019

ONSTREAM PIPELINE INSPECTION acquired by MISTRAS GROUP

CANADA Industrial Services / TIC (Testing, Inspection, Certification) EV 100M - 350M USD

Context

MISTRAS Group has acquired 100% of the stock of Onstream Pipeline Inspection Services from the Canadian private equity firm Novacap and other shareholders. The strategic rationale for the acquisition is to establish a "pipeline integrity pillar" within MISTRAS’ service portfolio. Onstream brings a fast-growing, highly profitable platform with a 4-year revenue CAGR of over 25%. The integration allows MISTRAS to leverage its extensive US customer relationships to accelerate Onstream’s expansion into the American market and the large-diameter midstream segment. Onstream’s management team, including its CEO and CTO, will remain with the business to drive future innovation and technological synergy with MISTRAS’ advanced NDT services.

ONSTREAM PIPELINE INSPECTION, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Onstream Pipeline Inspection Services Inc. is a leading North American provider of proprietary, technology-enabled inline inspection (ILI) and data analytics services. Founded in 2005, the company specializes in the "unpiggable" segment of the small to mid-bore gathering and midstream pipeline market. Onstream utilizes combination inspection tools equipped with high-resolution sensors in both free-swimming and tethered configurations to identify pipeline hardware, welds, bends, and metal loss defects. A key competitive advantage is its proprietary "Streamview" software, which allows a dedicated team of expert analysts to produce actionable reports in approximately 20 days, significantly faster than the 60-to-90-day industry norm. With operations in Alberta and Houston, Texas, the company serves critical energy infrastructure by ensuring the safety and integrity of pipeline assets.

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Similar deals in Industrial Services

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10/2018	KILOUTOU	MICHAUD LOCATION	FRANCE	Equipment Rental
06/2018	WARBURG PINCUS	SUPPLIER ASSESSMENT SERVICES	UNITED KINGDOM	TIC (Testing, Inspection, Certification)
06/2018	MBO+	GROUPE LOCATION TRANSPORT	FRANCE	Equipment Rental
05/2018	CINVEN	JLA	UNITED KINGDOM	Equipment Rental
04/2018	EUROFINS SCIENTIFIC	COVANCE FOOD SOLUTIONS	UNITED STATES	TIC (Testing, Inspection, Certification)
02/2018	HLD	KILOUTOU	FRANCE	Equipment Rental
12/2017	EUROFINS SCIENTIFIC	EAG LABORATORIES	UNITED STATES	TIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 100M - 350M USD

Revenue range: 10M - 30M USD

EBITDA range: 5M - 25M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ONSTREAM PIPELINE INSPECTION by MISTRAS GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.