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Astor Place Holdings Announces the Acquisition of Calibration Technologies, Inc.

NEW YORK, NY—Astor Place Holdings (“Astor Place”), the private investment arm of Select Equity Group, L.P. (“SEG”), has acquired a majority interest in Calibration Technologies, Inc. (“CTI” or the “Company”), a leading manufacturer of hazardous gas detection equipment for employee safety. Brian EuDaly, CEO, and senior members of the management team invested in the Company and will continue to operate the business.

Founded in 2004 and headquartered in Columbia, Missouri, CTI manufactures gas detection systems and sensors serving the industrial refrigeration market. The Company serves a diverse customer base across food & beverage, cold storage logistics and other refrigerated end markets. CTI’s products are highly engineered and designed to provide reliable gas monitoring in the harshest environments. CTI also manufactures gas detection equipment for carbon monoxide and nitrogen dioxide to monitor vehicle emissions in warehouse distribution centers.

In addition to its product offerings, CTI provides repair and calibration services at end-user facilities nationwide. CTI’s fleet of service technicians ensures end-user compliance with applicable regulatory requirements established by the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA).

“As a family-owned business, it was important to me to find a partner who is committed to the long-term success of our employees and customers. The Astor Place Team immediately understood and bought into what makes our company special. They have the experience and resources to grow CTI and take us to the next level,” said Mr. EuDaly.

“We are thrilled to partner with the EuDaly family in the acquisition of CTI,” said Astor Place Managing Director Charlie Durkin. “The business has an excellent brand reputation, industry-leading  products and singular focus on serving the customer. We look forward to investing in CTI’s growth as a diversified gas detection platform for years to come.”

McDermott Will & Emery acted as the legal advisor to Astor Place. Baker & Hostetler LLP served as legal advisor to CTI. Debt financing for the transaction was provided by Maranon Capital, L.P. Terms of the transaction were not disclosed.

About Calibration Technologies, Inc.
Calibration Technologies, Inc. is a leading manufacturer of gas detection systems and equipment for industrial refrigeration facilities. CTI prioritizes quality, accuracy, reliability, and customer  satisfaction. CTI’s gas detection systems are manufactured in Columbia, Missouri, and most of the Company’s products can be shipped same day to locations around the world.

About Astor Place Holdings
Astor Place Holdings is the private investment arm of Select Equity Group, L.P. Astor Place deploys patient capital in partnership with exceptional management teams to drive long-term value creation in lower middle market North American companies.

About Select Equity Group, L.P.
Select Equity Group manages approximately $36 billion across various strategies that share a fundamental investment philosophy and centralized research effort. SEG is employee-owned and has been located at 380 Lafayette Street in lower Manhattan since the early 1990s.