Industrial Service Solutions, a portfolio company of Edgewater Growth Capital Partners III, has acquired Precision Electric, IPT, Pro Inspection and M&L Valve. No financial terms were disclosed for any of these transactions. Precision Electric sells electric motors and pumps while IPT distributes valves and actuators. Also, Pro Inspection provides testing of pipes and M&L Valve specializes in valve distribution, repair and field services for the oil & gas and power generation sectors.
Industrial Service Solutions (“ISS”), a portfolio company of Edgewater Growth Capital Partners III, L.P. is pleased to announce that it has recently completed four acquisitions: Precision Electric Co., Inc. (“Precision Electric”), Integrated Process Technologies, Inc. (“IPT”), Pro Inspection, Inc. (“Pro Inspection”) and M&L Valve Service, Inc. (“M&L Valve”). Each of these companies provides specialty industrial services to its client base and has built a reputation of quality, responsiveness and superior technical expertise. These companies will augment the ISS platform with additional products and services, talented personnel and physical assets in new territories.
· Precision Electric sells, services and repairs all makes and models of electric motors, pumps, controls and related equipment across the Southwestern U.S. The company is capable of providing repair or replacement solutions across all major motor and pump brands and models.
· IPT distributes valves, actuators, pumps, cryogenics, controls, filtration systems, chemical storage systems and a variety of other process equipment. The company also provides value-added services including in-house engineering, shop assembly and testing capabilities.
· Pro Inspection provides non-destructive testing and inspection of pipes, weld joints, compressors, pressure vessels and other fabricated products and equipment used by companies in various industrial and commercial markets.
· M&L Valve specializes in valve distribution, repair and field services primarily for customers in the oil & gas and power generation industries.
ISS is building a national provider of industrial field services, repair and refurbishment of equipment found in most industrial and manufacturing facilities in North America. This market is extremely fragmented, making it difficult for major industrial companies to find a reliable single source of repair and maintenance services for mission critical equipment. Equipment in which ISS has particular expertise includes valves, actuators, motors/generators, pumps and compressors that are critical to maintaining plant operations and minimizing downtime. Since inception, ISS completed fifteen acquisitions and maintains over 25 service and distribution locations across the U.S. with over 500 skilled technicians. This combination of human and physical assets enables ISS to offer a broad and valuable set of solutions to its expansive customer base. The company maintains a robust pipeline of complementary companies that should continue the current pace of expansion and profitable growth.
The Edgewater Funds is a Chicago-based private equity firm with $1.4 billion in committed capital. Through Edgewater Growth Capital Partners, we partner with management to help accelerate growth in their businesses. Edgewater focuses on funding high quality middle market companies where we can add substantial value through our capital, our experience and our broad network. Edgewater leverages the experiences of its Partners and the Executive Advisory Board who have distinguished themselves as successful CEOs and business leaders.