Odyssey Investment purchases Applied Technical Services

An Odyssey Investment Partners-managed fund bought Applied Technical Services Inc. in partnership with Applied Technical President Jim Hills and its current management.

Marietta, Ga.-based Applied Technical, which offers testing, inspection and calibration services, will continue to be led by Hills and the company's existing management, which will retain a notable ownership stake in the business.

Harris Williams was adviser to Applied Technical. Latham & Watkins LLP was legal adviser to Odyssey, while Houlihan Lokey Inc. served as financial adviser.