SAND SPRINGS, Oklahoma—June 26,2017— FIS announced today that Keyth Pengal was appointed as CEO and added oil and gas industry veteran Bill Boyer to its Board of Directors. These appointments are effective immediately and further strengthen and position FIS as a North American leader in oil and gas pipeline inspection and integrity services.
“FIS has an over-40-year history of quality, trust, and honesty with its customers, employees, and communities it serves. Keyth will further strengthen these core values while bringing in his operating mettle, coupled with Bill’s 41 years of experience in oil and gas. This will be a great one-two punch to help accelerate the growth of FIS and better serve our customers, employees, and communities and be the premier choice of pipeline inspection services,” commented Cyrus Nikou, Chairman of FIS and Founder and Managing Partner of Atar Capital.
Pengal brings over 25 years of operating experience, most recently as a Managing Director of Atar’s operating group, where he will remain as a Senior Advisor. He helped lead the carve out of FIS from Team Inc. (TISI) and helped stabilize operations and strengthen relationships with the company’s key customers. Prior to supporting Atar Capital, Pengal held a number of executive positions/roles in operations, including Vice President of Operations at Goldline International, where he led technology and process improvements to help grow the company from $50 million to $850 million in 3 years. Keyth will report to the FIS Board.
Boyer is currently Senior Vice-President of Operations at Southcross Energy Partners L.P. (SXE). Boyer retired from Occidental Petroleum after an illustrious 39-year career where he was President of Occidental’s crude oil pipeline subsidiary, Centurion Pipeline, and General Manager of Occidental’s midstream operations business unit, which included the Centurion Pipeline operations and a new marine terminal at Ingleside, Texas.
“We are thrilled to welcome Bill to the FIS Board and to Atar Capital’s Senior Advisory Group,” added Nikou. “Bill is a ‘salt-of-the-earth,’ well-respected leader and operator in the oil and gas industry with significant pipeline inspection experience. We look forward to working with Bill and charting the next chapter of FIS.”
FIS is a North American leader in oil and gas pipeline inspection and integrity services. Serving their customers since 1975, FIS serves as an independent, outsourced provider of inspection and integrity services for all disciplines of pipeline, pipeline stations, terminals, power plants, tank storage farms, and other energy related fields. FIS works with 3,100+ professionals to place qualified Inspectors who act as the Designated Operator Representative to supplement the pipeline operators’ management and employees in the construction and implementation of pipeline, power plant, and mechanical integrity projects. FIS is headquartered in Sand Springs, Oklahoma, serving customers in both the U.S. & Canada.
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Vijay K Mony
Phone: +1 310 882 5568