Integrated Power Services (IPS), a Greenville, South Carolina-based provider of repair services, field services and distribution for continuous process industries, recently announced a trio of acquisitions, including Reed Electric & Field Service, which has facilities in Reno and Los Angeles.
Reed Electric, a fourth-generation family-owned company founded in 1929, is the longest running motor business in California. The company specializes in the repair and sale of AC, DC and synchronous motors up to 10,000HP/13.8 kV, as well as pumps and generators. The Reno branch is located at 5375 Louie Lane.
“Reed Electric has a rich 93-year history of providing high quality electro-mechanical services while delivering excellent customer service,” Roy Richard, President of Reed Electric, said in a statement. “IPS has demonstrated that they hold these same core values. Those values, combined with their marketplace strength, mean we couldn't be more excited to join the IPS network.”
The other acquisitions include Industrial Electric Machinery (IEM) and A+ Electric Motor, according to a Jan. 6 press release from IPS.
Bundy Group, an investment bank, acted as financial advisor to Industrial Electrical Machinery, Reed Electric/Field Service, R.A. Reed Electric Company, and A+ Motors, Inc. in connection with the transaction. Terms of the deals were not disclosed.
IEM, headquartered in Longview, Washington, with branch operations in Visalia and Carson, California, was founded in 1988 and offers engineering, electrical apparatus repair, control systems integration, warehousing and distribution.
A+ Electric Motor, founded in 1999, is a leading service provider in Montana, with repair facilities in Billings and Butte. It offers complete pump and motor repair services up to 3,000HP, with a focus on in-shop medium voltage rewinds.