GREENVILLE, S.C. — Integrated Power Services (IPS), involved in the service, repair and engineering of electric motors and generators, acquired Industrial Electric Motor Works, Inc.
Located in Meridian, Mississippi, Industrial Electric Motor Works is a full-service electric motor and generator service company. Tom McDaniel, the founder, opened the business in 1965. Today, the company employs 56 people and serves industrial customers across the Southern U.S. Industrial Electric runs a well-equipped 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 maintains inventories that include Toshiba, Baldor, Lafert and Brook Hansen electric motors, Toshiba variable frequency drives, and Sumitomo and SEW-Eurodrive gear reducers.
The acquisition expands IPS service and distribution business, particularly in the Southeast. 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,” said Tony McDaniel. “IPS shares our values and commitment to the customer, so we’re excited to see what we can do together.”
“We’re proud to add Industrial Electric to our North American network, which now has 20 service centers and 30 locations,” said John Zuleger, IPS president & CEO. “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 (has) done so well for so long.
“Tony and Stephen McDaniel have built a great business with a top-notch team. 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 of C&S Associates in Birmingham, Alabama served as financial advisor to Industrial Electric Motor Works on the transaction.