Briarcliff Manor, New York, April 17, 2013 – Pine Environmental Services LLC (“Pine”), a portfolio company of Saw Mill Capital LLC, recently acquired Ashtead Technology’s North American Instrument Division (“Ashtead”), a leading competitor in the rental market for environmental testing, non-destructive testing / remote visual inspection (“NDT / RVI”), and continuous emissions monitoring systems (“CEMS”) equipment. The terms of the transaction have not been disclosed.

Scott Rivard, a Principal at Saw Mill Capital, said, “Ashtead provides the unique opportunity to accelerate our growth in our core environmental testing market while providing access and growth opportunities in the attractive NDT/RVI and CEMS markets.”

“This acquisition will expand Pine's portfolio of NDT / RVI and CEMS products, while increasing its market share in Pine’s environmental market,” commented Roger Pinheiro, Pine’s Co-Founder. “The combined Pine-Ashtead company will deepen its relationships with its large environmental consulting and non-destructive testing customers and will strengthen its position as a preferred industry vendor,” added Angelo Pinheiro, Pine’s CoFounder.