AmSpec was founded in 1986 as a single laboratory location in Linden, NJ providing verification and testing services for petrochemical commodity cargoes in the regional market surrounding NY Harbor. Under the leadership of Joseph Wright and Matthew Corr, the company achieved rapid expansion and became one of the leading petrochemical verification and testing companies serving North America. Today, the company maintains a highly trained staff of IFIA approved field inspectors and a network of advanced laboratories strategically located to major ports and inland waterways, rail and truck transportation hubs, storage terminals, pipeline networks and refineries throughout North America, and serves a customer base comprised of the major domestic and multi-national energy producers, refiners and commodities trading companies. Management was seeking a financial partner with the capital and resources to assist the company in achieving its objectives for international expansion, including planned new inspection and laboratory locations in the major petrochemical ports throughout Central and South America, Europe, Asia and the Middle East. Silvergrove was engaged to manage a competitive process which resulted in multiple offers from leading private equity firms. A successful transaction was executed with Incline Equity Partners, a private equity firm based in Pittsburgh, PA, with a strong track record of partnering with management to grow middle market companies. The transaction positioned the company and its shareholders to capitalize on positive long-term trends in energy markets including major new domestic sources of production and growing export opportunities.