New York, 08 November 2023
Macquarie Capital Principal Finance (Macquarie Capital) today announced that it has signed a definitive agreement to acquire Camin Cargo Control Holdings, Inc. (Camin Cargo), a global provider of independent testing, inspection and certification (TIC) services to the energy industry, from Metalmark Capital Partners, a middle-market private equity firm.
Founded in 1982, Camin Cargo has 64 laboratory and inspection branches across 19 countries in the Americas and Europe. The company provides essential testing and inspection services of liquid fuels to ensure products meet commercial and regulatory requirements, as well as remedial fuel treatment services. These services are vital in maintaining fuel quality and controlling emissions, and increasingly support customers developing and introducing renewable fuels.
“Camin Cargo plays a critical role in the downstream energy value chain, providing independent testing and inspection services that allow market participants to trade energy products with confidence and certainty,” said James Fincher, Managing Director at Macquarie Capital Principal Finance. “Camin Cargo has been steadily growing market share in the Americas and Europe due to its outstanding reputation for accuracy, consistency and customer service.”
Bill Eckmann, Head of Principal Finance, Americas at Macquarie Capital, added, “Given the global energy demand outlook, we see significant opportunity to accelerate Camin Cargo’s already-impressive growth, both organically and through acquisitions. Furthermore, the company is well positioned to support the growing renewable fuels sector, having already made significant investments in building out lab capabilities and leadership expertise.”
John Hodson, CEO of Camin Cargo commented: “This acquisition marks an exciting new chapter of growth for Camin Cargo. Macquarie’s significant experience in both testing and inspection services and global commodities markets makes it the ideal partner to support us in further building out our operational capabilities, deepening our existing relationships and making large-scale investments into new and expanding markets.”
Macquarie Capital Principal Finance utilizes Macquarie Group's balance sheet to invest across the capital structure, providing debt and equity solutions for clients across North America, Europe and Australasia. The investment in Camin Cargo is part of its global private equity investing strategy.
The transaction is expected to close by year-end 2023, subject to regulatory review. Financial terms of the transaction were not disclosed.
Kirkland & Ellis served as legal counsel and Strata Partners acted as financial advisor to Macquarie Capital Principal Finance.
Headquartered in Pasadena, Texas, Camin Cargo is a leading third-party service provider of critical inspection, testing and fuel treatment services to global energy companies and trading houses. Camin Cargo operates 64 branches across 19 countries which are strategically located to serve multiple key ports, refineries, and other product transfer points throughout the United States, Canada, Latin America and Western Europe.
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives. The Firm focuses its investment activity in energy, industrials & infrastructure, agribusiness and healthcare. Metalmark Capital manages funds with $3.3 billion in aggregate capital commitments.