Industrial Growth Partners, in partnership with management, has acquired Integrated Global Services, a provider of on-site internal surface protection services. The transaction closed on May 12, 2014 and IGP’s investment was made through Industrial Growth Partners IV, LP.
Integrated Global Services (IGS) is a provider of on-site internal surface protection services for critical equipment in refineries, power plants and pulp & paper mills. The company’s customized services and products address metal wastage problems typically caused by corrosion and/or elevated-temperature erosion in the global refining, natural gas processing, coal-fired power generation, and pulp & paper industries. IGS’s services prevent equipment failure, extend service life, minimize outage downtime and reduce repetitive maintenance expenses for its customers. The company is headquartered in Richmond, VA (www.integratedglobal.com).
“IGP’s familiarity with IGS’s key end markets through its prior investments and the firm’s deep experience in the industrial sector made IGP an ideal equity partner for us,” said Rich Crawford, CEO of IGS. “The IGS management team is excited about the opportunity to leverage IGP’s experience to help expand our business internationally and to strengthen our position in our core markets. We look forward to capitalizing on the resources this new relationship provides.”
The transaction creates a solid platform for IGS to accelerate its international growth, enhance its selling capabilities and pursue selective acquisition opportunities. The acquisition is an ideal fit with IGP’s strategy of investing in niche industrial companies with leading market shares and outstanding management teams.
Industrial Growth Partners provides equity capital to lower-middle market manufacturing and manufacturing services companies with revenues of $30 million to $100 million. The firm invests equity in a range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. The firm was founded in 1997 and is based in San Francisco (www.igpequity.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-6-14
