Skip Navigation

Odyssey Investment Partners Acquires Applied Technical Services

NEW YORK, January 19, 2021 – Odyssey Investment Partners (“Odyssey”) announced that a fund it manages has acquired Applied Technical Services, Inc. (“ATS” or “the Company”), a premier provider of high-quality testing, inspection, and calibration services, in partnership with Jim J. Hills, the Company’s President, and the existing ATS management team. Financial terms of the transaction were not disclosed.

ATS, headquartered in Marietta, Georgia with more than 40 offices across the US, is a leading technical service platform that deploys a national network of experienced, highly technical professionals to provide mission-critical testing, inspection, certification, and compliance (“TICC”) services. Powered by innovative technology, significant operational scale and expertise, and deep knowledge of complex regulations, ATS delivers a vast suite of comprehensive services and solutions tailored to customers’ needs. The Company serves many of the world’s largest companies across numerous industries and offers advanced capabilities spanning laboratory testing, calibration services, non-destructive testing and consulting engineering services.

A family-run company for more than 50 years, ATS will continue to be led by Mr. Hills and the existing management team, which will maintain a significant ownership position in the Company.

Odyssey’s partnership with ATS builds on the firm’s experience in the testing services space through its previous investment in EAG Laboratories, a diversified materials testing provider.

Jason Cowett, a Managing Principal at Odyssey, said, “We are excited to partner with ATS, which is primed to accelerate its decades-long track record of growth given its strong value proposition and robust diversification across customers, geographies, and end markets. The Company has built considerable momentum driven by investments in infrastructure and talent, deep customer relationships, and an ingrained entrepreneurial culture. ATS has significant runway to continue its organic expansion and accelerate strategic acquisitions by capitalizing on its proven M&A capabilities in the fragmented markets it serves. We look forward to our partnership with Jim, his outstanding management team, and all of ATS’s talented professionals.”

“We selected Odyssey as our partner because we believe the firm has the knowledge and experience to help us capitalize on the transformative growth opportunities ahead of us,” said Mr. Hills. “Our business, founded by my father, Bill Lewis and Ralph Johnson more than five decades ago, has a trusted reputation of providing clients with exceptional expertise, uncompromised safety, and the highest-quality service. With the valuable support of Odyssey, ATS and our over 900 expert professionals will continue to scale our comprehensive, nationwide platform of advanced TICC services and lead the industry in providing the technical answers and solutions our customers need. We are excited to work with Jason and his team going forward to execute on our strategic growth objectives.”

ATS was advised by Harris Williams through the process, with Latham & Watkins LLP serving as legal advisor to Odyssey and Houlihan Lokey, Inc. serving as financial advisor.


Mark Semer
Kekst CNC
(917) 439-3507

About Applied Technical Services

Applied Technical Services, Inc. is a world-class, technologically advanced testing and inspection firm with extensive consulting and engineering capabilities. With headquarters in Marietta, Georgia and over 40 branch offices and over 900 employees scattered throughout the U.S., ATS has established an excellent reputation within the industrial, commercial, medical and legal communities for providing market leading services that include materials testing, environmental testing, chemical analysis, calibration, non-destructive testing, forensic and consulting engineering, and fire and explosion investigation. For further information about ATS, please visit

About Odyssey Investment Partners

Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit