Novitech receives growth investment from BP Energy Partners

On October 24, 2024, BP Energy Partners, LLC ("BPEP") announced the closing on a growth investment in Novitech, Inc. ("Novitech"). Terms of the transaction were not disclosed.

Founded in 2015, by Ron Thompson and Marco Campos, Novitech has established itself as a market leader in developing and providing inline inspection technology for pipelines, critical to ensuring the longevity of pipeline infrastructure. It is headquartered in Toronto, Ontario, with a U.S. based operations center in Commerce City, Colorado.

The transaction represents the first investment by BPEP's Fund III.

Further information can be found on Canada Newswire’s website.

Novitech is a leading inline pipeline inspection technology and data analytics company capable of detecting, sizing, and identifying damage mechanisms, including deformations, complex corrosion, and cracking, in liquids and natural gas pipelines through its proprietary and modular Micron technology.

BP Energy Partners is a Dallas, Texas based lower-middle market private equity firm that invests alongside entrepreneurs, family-owned businesses, and companies through growth equity and buyout transactions.

Campos Holding Company includes a portfolio of eight industry leading energy infrastructure companies serving North America.