Through one of its investment entities, Palm Beach Capital Fund IV, L.P. has made an investment in Neptune Research Inc. (NRI) and the related FloTex, LLC. Financial terms were not disclosed.
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NRI focuses its strategic research initiatives on the development, manufacture and marketing of state-of-the-art pipe repair solutions. The company’s Syntho-Glass® system has proven to be reliable within the international natural gas and oil industry for pipe repairs.
The company originally developed its pipe repair systems for application within the marine industry. Since, in order to support this demand, NRI has introduced an average of one new product per year over the last four years, with each product focusing on the company’s participation in the evolution of leak repair and pipe reinforcement.
“This was an amazing opportunity for both NRI and FloTex to catapult to the next level and we couldn’t have picked a better partner than Palm Beach Capital. They have the knowledge and team to help us continue to revolutionise the composite infrastructure business,” stated Chris Lazzara, NRI’s Chairman, President and CEO.
“We are excited to partner with Chris and the rest of the NRI team and to provide the support necessary for the Company to realize the full, global potential of NRI’s revolutionary solutions and service offering,” commented Michael Chalhub, Palm Beach Capital Partner. “NRI represents a unique opportunity for us to invest at an inflection point where such innovative solutions are so well-timed within the energy, infrastructure and composite industry.”
Read the article online at: https://www.worldpipelines.com/business-news/29052017/palm-beach-capital-invests-in-nri/