Integrated Power Services (IPS), the North American leader in the service and repair of rotating assets, pumps and power systems, has completed a majority ownership stake sale to Searchlight Capital Partners, L.P. (“Searchlight”).
The sale of IPS concludes its successful nine-year run with Odyssey Partners, a New York-based private equity firm specializing in middle-market acquisitions. During this period, IPS established its industry leadership in improving asset reliability with a metrics-driven, standards-based continuous improvement program. The company has also continued to make strategic acquisitions to expand its North American network. Today, IPS has 33 service centers and field offices, serving over 5,500 unique customers locations. Its investments in advanced equipment infrastructure, engineering and technicians drive the delivery of improved asset reliability and unmatched service quality.
“It’s an exciting time at IPS. Under new ownership we will continue to grow, while providing industry-leading aftermarket solutions to a broad base of North American customers,” said John Zuleger, Chief Executive Officer of IPS. “We’re pleased to welcome our new partners at Searchlight as we continue our journey to world-class.”
For more information on IPS or Searchlight Capital Partners, or to arrange an interview with IPS senior management, contact Megan Thompson, IPS Director of Marketing, at 864.451.5636 or mcthompson@ips.us.
About Searchlight Capital Partners
Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. For more information, please visit www.searchlightcap.com.
