FREDERICTON– A New Brunswick company specializing in geotechnical instruments has been acquired by a private equity firm based in Los Angeles.
Vance Street Capital LLC announced earlier this month that it has acquired Fredericton-based Measurand Group, a leading designer and manufacturer of geotechnical instrumentation used to monitor the deformation of soil and structures. The company is known for its flagship 3D ShapeArray product suite, which monitors the deformation of soil and structures using 3D shape-sensing technology. The products are used in the monitoring of critical assets such as mines, tailings ponds, bridges, tunnels, geohazards, dams and levees.
Vance Street says the acquisition of Measurand will complement its recent investment in R.S.T. Instruments (RST), another leading geotechnical instrumentation provider. Terms of the transaction were not disclosed.
“Measurand and RST together have over 50 years of instrumentation and monitoring experience. Both Measurand and RST have been longstanding leaders in the geotechnical engineering community and this partnership further enhances the industry-leading solutions each organization can provide to its customers throughout the world,” said Measurand president Jeff Barrett, in a release.
Together Measurand and RST have served over 1,500 global customers through professionals based in Vancouver, Fredericton, Denver, San Francisco, Stowmarket (U.K.) and Hong Kong. With over 50 degreed engineers and geoscientists and the broadest product offering in the geotechnical industry, Vance Street says Measurand and RST are well positioned to provide industry-leading risk management for the largest and most challenging monitoring projects in the world.
“We’re excited to support the continued growth of Measurand’s innovative displacement monitoring technology,” said Brian Martin, a managing partner at Vance Street. “Paired with RST’s best-in-class geotechnical instrumentation offering, the combined platform will be well suited to take advantage of the significant tailwinds driving the adoption of critical asset monitoring solutions.”