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Kingswood Capital Management Acquires Covenant Testing Technologies

Oct 24, 2023•about 2 years ago

Acquiring Company

Kingswood Capital Management

Acquired Company

Covenant Testing Technologies

Los AngelesSugar LandFintechAngel InvestmentFinanceOil And GasEnergy

Description

Kingswood Capital Management, LP (together with its affiliates, "Kingswood") announced today that it has acquired Covenant Testing Technologies ("Covenant" or the "Company"), a well-flow management and equipment rental company. Kingswood partnered with industry veterans James Stewart and Doug Scott on the transaction. Kingswood Operating Partner James Stewart will serve as Chief Executive Officer and Chairman of the Board of Directors, and Doug Scott will serve on the Board of Directors of Covenant.

Company Information

Company

Kingswood Capital Management

Location

Los Angeles, California, United States

About

Kingswood Capital Management, LP partners with leading companies in the middle market which stand to benefit from its capital and extensive operating resources. Kingswood embraces complexity and believes it is well-positioned to support businesses at inflection points in their development to enhance value. Based in Los Angeles, Kingswood is a cohesive, entrepreneurial team with a long history of shared success developing “win-win” partnerships with its portfolio companies and management teams.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed