Edgewater Announces Two Acquisitions for Industrial Services Solutions
Edgewater Growth Capital Partners III, L.P. is pleased to announce that we have recently completed two add on acquisitions to our portfolio company Industrial Service Solutions Holding Corporation (“ISS”). ISS was formed in 2011 to develop a strategic build-up in the fragmented industrial repair, refurbishment and services market. Through mid-2012, ISS completed five acquisitions, all of which provide the skilled labor, facilities and management leadership necessary to provide solutions for pumps, valves, compressors and motors. These devices are critical for plant operations particularly in the continuous process industries targeted by ISS.
In December 2012, ISS completed the acquisition of Madison-Smith Machine & Tool Co. (“MSMT”). MSMT provides plant maintenance, field/service repair and a centralized source of precision machined components. The company is headquartered in Kentucky and services manufacturing plants operating in a variety of end markets in the Southeast including food, automotive, agriculture, consumer products and packaging. This acquisition increases ISS’s customer base, expands the ISS team focused on scheduled plant maintenance and bolsters the precision machining capability within ISS.
In February 2013, ISS acquired RAM Industrial Services, Inc. (“RIS”). RIS provides repair services and replacement parts for pumps, motors and related equipment. RIS’s 150 employees service over 1,500 industrial customers primarily in the transportation, energy and metals sectors. RIS is headquartered in Leesport, PA and its experienced management team will play a leading role in the continued growth of the pumps and motors vertical.
ISS has now completed seven acquisitions and continues to seek complementary acquisition opportunities.