Industrial Growth Partners, in partnership with management, has acquired Electric Power Systems International (EPS).
EPS is a provider of outsourced electrical engineering, testing, repair and maintenance services. The company specializes in electrical substations equipment including protective relay and control systems, breakers, transformers, batteries and switchgear.
EPS customers include companies active in the utility, industrial, transit, data centers, and commercial markets. The company, led by CEO Steve Reed, was founded in 1977 and has more than 30 offices across the US with a headquarters in St. Louis (www.epsii.com).
“We are excited to partner with IGP as we continue to grow and strengthen our business,” said Mr. Reed. “IGP specializes in supporting industry-leading companies such as EPS. Their expertise and long track record of partnership makes them the right partner as we move into the next stage of our growth.”
San Francisco-based IGP invests in niche manufacturers and industrial services businesses that have histories of profitability and revenues of up to $250 million (www.igpequity.com).
The buy of EPS is the sixth platform investment for IGP’s fifth fund, Industrial Growth Partners V LP, which closed in May 2016 with $800 million of committed capital.
© 2018 Private Equity Professional | November 14, 2018