Edgewater Platform Company Completes Two Acquisitions
Industrial Service Solutions (“ISS”), a portfolio company of Edgewater Growth Capital Partners III, L.P. is pleased to announce that it has recently completed two acquisitions: Construction & Turnaround Services, Inc. (“CTS”) and Parts Services International LLC (“PSI”). Each of these companies will augment the ISS platform with additional products and services, talented personnel, and physical assets in new territories.
• CTS is based in Snyder, TX and provides plant inspection and maintenance services primarily for the oil & gas and chemical industries. The transaction was completed in May 2014.
• PSI is a distributor of compressed air aftermarket parts, filters, separators, dryers and other equipment via the internet. The transaction was completed in July 2014.
ISS was formed to execute a strategic build-up in the industrial repair, refurbishment and field services market. Equipment in which ISS has particular expertise includes valves, actuators, motors/generators, pumps and compressors among other categories that are critical to maintaining plant operations and minimizing downtime. Since inception, ISS completed eleven acquisitions and maintains over 20 service and distribution locations across the U.S. with over 500 skilled technicians. This combination of human and physical assets enables ISS to offer a broad and valuable set of solutions to its expansive customer base. The company maintains a robust pipeline of complementary companies that should continue the current pace of expansion and profitable growth.