Integrated Project Services (IPS), a portfolio company of Alleghany Capital since November 2015, has acquired Anchorbuoy (DBA Linesight).
IPS provides consulting, engineering, construction management, commissioning and qualification services to capital projects undertaken by pharmaceutical and biotechnology companies.
IPS, led by CEO Dave Goswami, has more than 1,700 employees and is headquartered in the Philadelphia suburb of Blue Bell, Pennsylvania with additional locations in Canada, Brazil, the United Kingdom, Switzerland, Germany, Singapore, China, and India.
Linesight is a consulting firm that provides cost, schedule, risk, program and project management services to companies operating in the data centers, technology, and life sciences sectors. Linesight, led by CEO Paul Boylan, has more than 900 employees and is headquartered in Dublin, Ireland.
“This exciting transaction brings together two dynamic companies with complementary service and geographic positioning in several of the most attractive long-term growth sectors,” said David Van Geyzel, CEO of Alleghany Capital. “IPS, which has a large business in the United States and a rapidly growing international division, serves clients in multiple industries, with a particular emphasis on the biopharmaceutical sector. Conversely, Linesight, which has a large presence in Europe and Asia-Pacific and significant growth opportunities in the United States, has a strong position in the data center and technology sectors with an emerging life sciences operation. We look forward to supporting IPS and Linesight as they continue to expand their businesses globally and capitalize on the opportunities that result from this transaction.”
“This is a transformational transaction for both IPS and Linesight and we are excited to embark on a new growth journey together, supported by Alleghany Capital,” said Mr. Goswami. “By building on both companies’ solid track records and combining our skills and management depth, we expect to make a meaningfully positive difference in the industries we serve.”
New York City-based Alleghany Capital makes majority investments in North American-based companies that have from $15 million to $50 million of EBITDA. The firm is part of Alleghany Corporation (NYSE: Y) an investment holding company founded in 1929 by railroad entrepreneurs Oris and Mantis Van Sweringen.
Capnua Corporate Finance was the financial advisor to Linesight.
© 2021 Private Equity Professional | October 26, 2021