ARENA News Release

Arena Completes Add-on Acquisition for FST Technical Services, LLC

Arena Investors, New York

December 3, 2021

Arena Investors (“Arena”) announced that it has closed an add-on acquisition for its portfolio company, FST Technical Services, LLC (“FST”). On December 16th, 2020, FST acquired Horizon Engineering Associates, LLP (“HEA”). HEA is a professional engineering firm specializing in building commissioning and LEED services across the United States.

Target acquisitions
Arena is actively looking for additional acquisitions for FST with the following criteria:

  • $10mm+ of revenue
  • $1mm+ of EBITDA
  • Serving end markets including pharmaceutical, biopharma, life sciences, healthcare, food and beverage, and datacenter
  • Services that include: QA/QC, special inspections (e.g. NEBB), commissioning, validation, specialty NDT and Mechanical Material testing, air quality, and building code/fire safety.

About FST Technical Services, LLC
FST was founded in 1984 and is based in Chandler, AZ. FST provides testing, inspection, and certification services for mission-critical facilities globally with a focus on various end markets including semiconductor, biopharma & life sciences, data centers, building commissioning, and R&D facilities, among others. The company provides QA/QC, analytical testing, equipment services, building commissioning, and other testing services for its diverse customer base.

About Arena Investors
Arena Investors is an institutional asset manager that provides creative capital solutions for middle-market companies. Arena manages more than $2 billion across its various funds, employs 80+ people globally, and its leadership team has an average of 20+ years of experience. Since its inception in 2015, Arena has deployed approximately $3 billion into investments that typically range from $5 million to $50 million. The firm brings decades of experience, a track record of comfort with providing growth capital to middle-market private companies, and supports its portfolio companies with flexible capital solutions.

Contacts
Arena Investors:
Parag Shah
ir@arenaco.com

Arena Media:
Lindsay Jablonski
pro-arena@prosek.com