Companies
Based in Wichita, KS, PROtect is a leading enterprise-level risk management partner, providing Testing, Inspection, Certification, and Compliance (“TICC”) services to companies in essential industries, including chemicals, food & beverage, midstream energy, pharmaceutical, power generation, refining, renewables and others. PROtect is led by Founder and CEO Nathan VanderGriend and a team of seasoned executives. The Company has distinguished itself providing a range of non-discretionary services centered around helping customers manage operational risks, including non-destructive testing, safety, industrial hygiene, environmental and insurance services. With industry-leading growth, PROtect has rapidly expanded its footprint, completed numerous add-on acquisitions, and fostered a workforce of over 500 staff nationwide serving an expanding list of more than 500 customers.
Investment Thesis
Partner with a leading, technology-enabled risk management provider of non-discretionary, TICC services with entrenched, enterprise-level customer relationships, a deep, growing and talented labor pool of certified technicians and consultants, and a strong reputation for fast and reliable performance in services with a high cost of failure for customers.
- Drive organic growth by: (i) capitalizing on strong industry tailwinds; (ii) expanding service line offerings in both the Reliability and Risk & Compliance channels; (iii) continued cross-selling of existing services to expand wallet share and entrenchment with existing customers; (iv) onboarding new customer facilities and opening new office locations to increase TAM and expand footprint strategically; and (v) pursuing new attractive customer end markets.
- Continue the acquisition strategy to pursue M&A with smaller local or specialized TICC consultants or service providers to win new logos, unlock new service offerings, increase market share in existing geographies, and accelerate geographic expansion.
- Further invest in platform capabilities for scale and a wider competitive moat, including human capital additions, fleet optimization, and data capture and AI-based tools for best-in-class inspection and preventative maintenance programs.
- Redeploy PROtect’s attractive free cash flow generation into value accretive investments, including debt paydown.
Sterling Team
Michael A. Barr
Managing Partner
Joseph J. Gault
Chairman of the Board, Senior Partner
Drew Bloom
Vice President
Tom Salama
Senior Associate
