BP Energy Partners has made a growth investment in Novitech, a leader in inline pipeline inspection technology, aiming to enhance safety and operational efficiency in the pipeline industry.

Target Company Overview

BP Energy Partners, LLC (BPEP), based in Dallas, Texas, has successfully completed a growth investment in Novitech, Inc. (Novitech), a prominent company specializing in inline pipeline inspection technology and data analytics. This transaction marks BPEP's initial investment from their Fund III.

Founded in 2015 with the backing of the Campos Family of Companies, Novitech has emerged as a leader in the development of inline inspection technologies for pipelines. Over the past nine years, Novitech has effectively commercialized its proprietary Micron technology, which addresses intricate integrity challenges, receiving robust support from the industry. Currently, Novitech's Micron technology provides essential flaw detection capabilities for both liquid and natural gas pipelines within a single run, enhancing safety and risk management for pipeline operators.

Industry Overview

The pipeline inspection technology sector is undergoing significant transformation, driven by increasing awareness of safety and environmental concerns. In the context of North America, the aging infrastructure in the