Portfolio Company UpdateJanuary 17, 2023RMA Announces the Acquisition of C Below

RMA Companies (“RMA”) today announced that it has acquired C Below, Inc. dba C Below Subsurface Imaging (“C Below”), a provider of technology-enabled underground utility locating services. As part of the transaction, C Below’s operations will be merged with RMA’s SiteScan Subsurface Imaging business (“SiteScan”) under the leadership of Chris Loera, C Below’s CEO. Since December 2021, RMA has completed four acquisitions, as it executes an aggressive growth strategy to build a national platform for testing and inspection services.

Founded in 2009, C Below is a leading provider of utility locating and mapping services for public agencies, engineers, architects, and contractors in critical infrastructure projects across many end-markets. Its engineers and technicians use specialized equipment to offer advanced geophysical capabilities, including vacuum excavation, electromagnetic location, ground penetrating radar, BIM mapping, and CCTV pipeline inspection. Through these services, C Below helps its clients prevent construction delays during excavation of existing subsurface infrastructure by confirming the location, depth, and type of buried utility assets.

“C Below’s success in developing the market for underground utility imaging inspired RMA to launch SiteScan in 2016,” said Ed Lyon, RMA’s CEO. “The combination of C Below and SiteScan enables RMA to better serve our clients through a larger geographic footprint and new service capabilities. C Below operates with the same client-centric culture and a shared history of technology innovation as RMA, making it an invaluable addition to our family of testing, inspection, and certification services for infrastructure asset owners, contractors, and public agencies. I am excited to work with Chris Loera in identifying opportunities to expand C Below’s operations on a national scale.”

“We established C Below in 2009 to address the growing demand for non-destructive testing systems for the location, imaging, and mapping of underground utility assets,” said Dave Menefee, former President of C Below. “After reaching an inflection point in our growth, we sought a partner that could help drive rapid expansion without compromising our values or reputation for high-quality service. Having known Ed Lyon for many years, we are confident we found the right partner.”

“We are thrilled to join RMA and combine operations with SiteScan,” said Chris Loera. “Dave and I are proud of C Below’s track record for providing clients with accurate and reliable information so they can deliver successful and safe construction projects. With this transaction, we expect to make new technology investments to offer additional service capabilities to our clients across the Western U.S. For C Below employees, the strategic combination with SiteScan creates exciting professional growth opportunities for our combined workforce.”

About RMA Companies

RMA is a leading provider of technology-enabled laboratory testing, inspection, and quality management services for critical public and private infrastructure assets across diverse government and commercial end-markets, including transportation, healthcare, power, and water. RMA’s team of engineers, geologists, inspectors, and technicians help infrastructure asset owners, engineering firms, and construction companies maintain compliance with strict regulatory and operating requirements through a range of geotechnical, environmental, and materials testing services. Founded in 1962, RMA is headquartered in Rancho Cucamonga, California. RMA is a portfolio company of OceanSound Partners. For more information, please visit www.rmacompanies.com.

About C Below

C Below is a technology-enabled provider of subsurface imaging services, including utility locating, ground penetrating radar, and potholing. Founded in 2009, C Below provides timely, cost-effective solutions to assure safety while protecting assets and preventing lost time due to damages caused by cutting, coring, drilling, or digging in areas congested by unseen hazards in concrete, masonry, and underground. Our team of highly experienced technicians and utilize the most advanced equipment available in the industry. For more information, please visit www.cbelow.com.

About OceanSound Partners

OceanSound Partners is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end-markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle market businesses to drive transformational growth. For more information, please visit: www.oceansoundpartners.com.

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