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BP Energy Partners has closed on a growth investment in Novitech, Inc., the company announced Oct. 24. The transaction represents the first investment in BPEP’s Fund III. The amount of the investment wasn’t disclosed.
Founded in 2015, Novitech is a leading inline pipeline inspection technology and data analytics company. Novitech’s Micron technology can deliver critical flaw detection capabilities, including cracking, for liquids and natural gas pipelines in a single run. This capability enables better safety and risk-based integrity management decision making.
Greenberg Traurig LLP and Torys LLP served as legal counsel to Novitech in connection with the transaction. Ropes & Gray LLP and The Garden Law Group acted as legal counsel to BPEP.
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