Maquire-led consortium acquires SI Solutions

Macquarie Asset Management (MAM) has agreed to acquire a majority stake in structural integrity engineering firm SI Solutions from private equity firm MidOcean Partners, alongside co-investors that include UniSuper.

The transaction, which is expected to close this year is subject to regulatory approvals and customary conditions, aligns with the strategy of investing in high-quality businesses serving essential industrial and energy markets, MAM said.

Headquartered in Huntersville, North Carolina, SI Solutions provides structural integrity engineering, testing and software services to owners and operators of critical infrastructure.

The company has 16 locations, including fire-testing laboratories and supports more than 330 clients across nuclear, gas power, pipelines, petrochemical, civil and industrial markets.

SI assesses whether critical infrastructure assets are safe, compliant and fit for continued service, with its engineers and technicians evaluating their remaining useful life, diagnosing equipment and system issues and supporting assets across their lifecycle.

Its capabilities include stress, fatigue and materials analysis, non-destructive evaluation, laboratory testing, failure analysis and asset management software.

Alternative asset manager MidOcean acquired SI Solutions in 2024.

MAM senior managing director Andrew Olinick said SI was a strong fit with the firm's investment strategy.

"SI is a highly regarded industry leader with a strong track record of serving many of the largest utilities, who seek out SI for their most challenging structural integrity problems. SI's specialization in the power generation markets is a strong fit for our strategy," Olinick said.

UniSuper head of private markets Sandra Lee said the investment would deliver long-term value for members while supporting critical infrastructure underpinning reliable power generation.

MAM managing director Alec Rubenstein said the business aligned with several of Macquarie's investment themes, including the convergence of energy and digital infrastructure and the need to maintain ageing critical infrastructure.

SI Solutions chief executive Mark W. Marano said the partnership would support the company's next phase of growth, particularly across nuclear and gas power.

"We look forward to working with them on the next phase of our growth story as we capitalise on the momentum in the nuclear and gas power markets to further our leadership position in structural integrity," Marano said.