The CapStreet Group said Tuesday that it has closed a recapitalization of Industrial Plant Services. No financial terms were disclosed for the transaction, which was done in partnership with Industrial Plant Services’ senior management team. Based in Houston, Industrial Plant Services is a provider of corrosion resistant and non-metallic products for the petrochemical and industrial sectors.
HOUSTON–(BUSINESS WIRE)–The CapStreet Group, LLC (capstreet.com) today reported the completion of a majority recapitalization of Industrial Plant Services, Inc., the parent company of EPSCO International & Companies, Inc. (epscointl.com) and Plant Maintenance Services (plantmaintenanceservices.com), in partnership with the senior management team.
Founded in 1994, Industrial Plant Services is a Houston-based provider of corrosion resistant and non-metallic products primarily serving the petrochemical and general industrial end markets. Private equity firm CapStreet, also based in Houston, focuses on growing, lower-middle market companies in Texas and other Sunbelt states.
EPSCO International, founded in 1962, is a specialty distributor of corrosion resistant and non-metallic products along the Gulf Coast. EPSCO has facilities in six strategic locations along the Texas and Louisiana Gulf Coast.
Plant Maintenance Services is a multi-craft industrial service provider and manufacturer, which specializes in corrosion protection and various types of linings to the petrochemical and general industrial end markets. The company has locations in Houston and Garland, Texas, St. Gabriel and Westlake, Louisiana, and Harrison, Arkansas.
“CapStreet not only brings the financial backing to support our growth but also contributes significant experience in the industry and a history of successful partnerships with companies like ours,” said Jeff Duncombe, president and CEO of Industrial Plant Services.
CapStreet Principal Paul DeLisi added, “Industrial Plant Services is a leader in its industry, and we look forward to supporting the company, management team and employees as they continue to grow organically and through acquisitions.”
ABOUT THE CAPSTREET GROUP
Founded in 1990, CapStreet focuses on investing in lower middle market, privately-held businesses headquartered in Texas and other Sunbelt states. Since inception, the firm has raised approximately $700 million of private equity, completed 35 portfolio company investments and assisted these companies in completing more than 250 add-on acquisitions.