KCM-backed Industrial Service Group buys Georgia Western

Industrial Service Group, which is backed by KCM Capital Partners, has acquired Georgia Western, a provider of electric valve actuation parts, distribution and service in the Southeastern U.S.

Industrial Service Group, which is backed by KCM Capital Partners, has acquired Georgia Western, a provider of electric valve actuation parts, distribution and service in the Southeastern U.S. No financial terms were disclosed for the transaction that was done in partnership with PNC Mezzanine Capital and Five Points Capital.

PRESS RELEASE

Chicago, IL – April 16, 2021 – Chicago-based private investment firm KCM Capital Partners LLC (“KCM”), an investor in lower middle-market business services, value-added distribution and specialty industrial companies, announced today that its industrial critical-to-process rotating equipment services platform, the Industrial Service Group (“ISG”), has completed the acquisition of Georgia Western, LLC (“Georgia Western” or the “Company”) headquartered in Kennesaw, Georgia. The transaction was completed in partnership with Company management, PNC Mezzanine Capital based in Pittsburgh, Pennsylvania and Five Points Capital located in Winston-Salem, North Carolina. Terms of the transaction were not disclosed.

Founded in 1992, Georgia Western is the largest independent provider of electric valve actuation parts, distribution and service in the Southeastern U.S. The Company serves a broad base of industrial customers and is widely recognized for its best-in-class technical capabilities, unmatched service breadth and an industry-leading reputation for quality and on-time delivery.

The Company’s founders steadily built Georgia Western into the premier specialist for highly technical, electrical actuation and control valve services before deciding to partner with KCM and ISG in order to position the Company for enhanced growth. Consistent with KCM’s investment philosophy – Keeping Continuity Matters – Georgia Western will continue operations under its current identity while its founders, Neil Hutcheson and Greg Giles, will continue to oversee day-to-day operations of the business.

“We are excited to welcome the Georgia Western team to the ISG family of companies”, said Jim Richard, CEO of ISG. “Drawing on their rich history of service and leading brands, Georgia Western has created a reputation as the preeminent company for all electric actuation solutions required across the industry. Leading with service is a core principle for ISG. Georgia Western aligns perfectly with our culture and further extends our expertise in critical-to-process rotating equipment services.”

Derek Ferguson, Partner at KCM, added, “Neil, Greg and the Georgia Western team have built a strong foundation that strongly complements our strategy at ISG and brings exciting synergies and growth opportunities to the platform. We are highly appreciative of the continued strategic capital support provided by our partners PNC Mezzanine Capital and Five Points Capital and look forward to further executing on this strategy with them.”

LBC Credit Partners provided senior debt financing in support of the transaction, while Katten Muchin Rosenman LLP served as legal counsel to KCM.

About Georgia Western:
Headquartered in Kennesaw, Georgia, Georgia Western is the largest independent provider of electric valve actuation parts, distribution and service in the Southeastern U.S. Operating for nearly 30 years, the Company provides highly technical electrical actuation services for valves critical to control processes throughout multiple industrial end markets, including utility, industrial, energy, gas transmission, water and wastewater treatment, among others. For more information, please visit www.georgiawestern.com. About Industrial Service Group:

The Industrial Service Group (“ISG”) is a leading network of service-oriented companies specializing in the repair, service, distribution and sale of critical-to-process rotating equipment. ISG companies are leaders in their field and provide a combination of service, routine maintenance and product sales to hundreds of blue-chip customers throughout the U.S. For more information, please visit www.isgservice.com.