Acquisitions continue for Integrated Power Services
Integrated Power Services continues to soak up service shops, with this week taking the company decidedly westward for the acquisition(s) of three companies familiar to our readers from the classified section.
IPS, the Greenville, SC-based service operation, feels it has now “established a leading presence in the western United States” with the acquisition of three companies — Industrial Electric Machinery (IEM), Reed Electric & Field Service, and A+ Electric Motor, per a January 5 press release.
As noted above, this isn’t the first time IPS has gone west.
IEM, headquartered in Longview, WA with branch operations in Visalia and Carson, CA, is one of the leading electrical apparatus repair providers in the Pacific Northwest. Founded in 1988, the company offers engineering, electrical apparatus repair, control systems integration, warehousing and distribution.
“Industrial Electric Machinery has a longstanding reputation as a leader in power and rotating equipment services,” said Spencer Wiggins, IEM President. “IPS shares our desire to be world class, to be a destination for customers and employees, and to be thought leaders in the space. It was evident immediately that IPS is a great fit and we’re excited to join the IPS team!”
Reed Electric & Field Service, a fourth-generation family-owned company founded in 1929, is the longest running motor business in California. The company, which has facilities in Los Angeles and Reno, specializes in the repair and sale of AC, DC and synchronous motors up to 10,000HP/13.8 kV, pumps and generators.
“Reed Electric has a rich 93-year history of providing high quality electro-mechanical services while delivering excellent customer service. IPS has demonstrated that they hold these same core values. Those values, combined with their marketplace strength, mean we couldn’t be more excited to join the IPS network,” said Roy Richard, President of Reed Electric.
A+ Electric Motor, founded in 1999, is a leading service provider in Montana, with repair facilities in Billings and Butte. The company offers complete pump and motor repair services up to 3,000HP, with a focus on in-shop medium voltage rewinds. A+ serves customers in power generation, mining and minerals, municipalities, oil & gas, and agriculture in Montana, Wyoming, Idaho and the Dakotas.
“The rapidly growing market in this part of the country has always been challenging for us to stay on pace with, to provide the level of service to our customers that they demand. By partnering with IPS, we’ll be able to accelerate the customer-focused growth that our customers have come to know and expect,” said Joe Perry, General Manager of A+ Electric Motor.
These acquisitions add seven new service and repair facilities in California, Nevada and Montana, complementing IPS service centers in Portland, Seattle and Spokane. Together, they extend the company’s reach in electric motor repair and field services, while expanding its renewables business in the wind, solar, hydro, and geothermal renewable energy markets.
“Rarely does a company have an opportunity to acquire three well-run companies at once, with such distinguished records, that share the IPS goal of becoming their customers’ trusted advisor,” said John Zuleger, IPS President and CEO. “Adding these businesses to IPS will accelerate offering our industry-leading services to the western U.S. and advance our reach as the highest quality, closest provider of power, electro-mechanical and rotating equipment services in North America.”