DALLAS, Jan. 24, 2017 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the acquisition of its client, IPEC, LLC, and Industrial Scaffolding Group, LLC, of Grayling, Michigan, to IPEC, Inc., a newly formed subsidiary of Industrial Service Solutions, headquartered in Fort Myers, Florida. The acquisition closed December 19, 2016. Details were not disclosed.
IPEC is a heavy industrial mechanical contractor that self-performs and manages all projects. The company's specialty is providing highly trained and highly qualified personnel with licensed mechanical contractors across numerous states. The company also boasts a staff with expertise in process equipment within cement and sugar manufacturing facilities. IPEC performs rebuilds, retrofits, installations and general maintenance for annual plant turnarounds and outages, as well as other projects.
Industrial Scaffolding Group (ISG) is a full-service scaffolding company that provides scaffold rentals, erection and dismantling services throughout the U.S. ISG has the ability to mobilize the jobsite with highly experienced scaffold builders.
Industrial Service Solutions (ISS) is a holding company backed by private equity firms The Edgewater Funds and JZ Partners. The firms are building a national provider of industrial field services, including repair and refurbishment of equipment found in most industrial and manufacturing facilities in North America. ISS has four core services groups, including its Process Equipment Services Group, which IPEC and ISG are now part of.
Since inception in the late 2000s, Industrial Service Solutions has completed 22 acquisitions and maintains more than 40 service and distribution locations across the U.S. with approximately 1,500 employees.
"The three managing members of IPEC and ISG had grown both businesses phenomenally well but had reached an inflection point of needing additional capital to take the business to the next level," said Goss. "Industrial Service Solutions is on an aggressive growth plan and seeking to deploy capital and leverage synergies amongst its nearly two dozen related industrial services holding companies, and was poised to help the owners of IPEC and ISG accelerate growth and build upon their legacy in a new and exciting chapter."
According to Jeff Manz, President and Managing Member of both IPEC and ISG, "We were afforded the ability with Generational Equity to come in contact with multiple companies until we found the right company and management to partner with. ISS will allow us to expand geographically and into new industries as well as provide us with the opportunity for growth through capital investment and strong synergies within the other ISS companies."
About Generational Equity
Generational Equity, part of the Generational Group headquartered in Dallas with over 200 professionals located throughout North America, helps business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services. The M&A Advisor recently named the company its 2016 Investment Banking Firm of the Year. For more, visit www.genequityco.com and the Generational Equity press room.
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