IPS acquires Mississippi company

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Integrated Power Services, a Greenville-based provider of service, repair and engineering for electric motors and generators, has acquired Industrial Electric Motor Works Inc.

Located in Meridian, Miss., Industrial Electric Motor Works is a full-service electric motor and generator service company. Tom McDaniel opened the business in 1965. Today, the company employs 56 people and serves industrial customers across the southern United States, according to a news release. Industrial Electric runs a repair shop for electric motors up to 5,000 horsepower, with comprehensive field services for drives, motors, generators, pumps, fans, controls and gearboxes.

Industrial Electric also has a distribution operation. The company maintains an inventory that includes Toshiba, Baldor, Lafert and Brook Hansen electric motors; Toshiba variable frequency drives; and Sumitomo and SEW-Eurodrive gear reducers, the release said.

Tom McDaniel’s sons, Tony, Industrial Electric’s president, and Stephen, service and repair manager, will join IPS and support the company’s integration into the IPS North American network.

“The Industrial Electric Motor Works family is proud to join IPS,” Tony McDaniel said in the release. “IPS shares our values and commitment to the customer, so we’re excited to see what we can do together.”

John Zuleger, IPS president and CEO, said the acquisition expands the IPS service footprint and strengthens its distribution business, particularly in the Southeast.

“We’re proud to add Industrial Electric to our North American network, which now has 20 service centers and 30 locations,” Zuleger said in the release. “What stood out to us about IEMW was their excellent reputation with customers. To have ongoing operations for 55 years is remarkable, but it’s truly extraordinary to see it done so well for so long.”

“Tony and Stephen McDaniel have built a great business with a top-notch team,” he said in the release. “We’re confident their resources and relationships will support our continuing growth and that we’ll learn from the way they deliver customer excellence.”

Pete Smith, C&S Associates, Birmingham, Ala., served as financial advisor to Industrial Electric Motor Works on the transaction.