IPS to acquire Tampa Armature Works
USA, South Carolina, Greenville: Integrated Power Services (IPS) announces it has reached a definitive agreement to acquire Tampa Armature Works Inc. (TAW).
Image source: Hydro Review
USA, South Carolina, Greenville: Integrated Power Services (IPS) announces it has reached a definitive agreement to acquire Tampa Armature Works Inc. (TAW).
TAW is headquartered in Riverview, Florida, and is a fourth-generation, family-owned company with 11 locations servicing customers in the USA, Caribbean, South America and internationally. It provides sales, service, custom manufacturing, maintenance and repair for electric motors, generators, transformers, switchgear, drives, pumps and rotating apparatus.
The acquisition expands the IPS service footprint and adds to its rotating equipment and electrical component service capabilities, according to a release.
“I believe strongly that the combination of TAW and IPS will be an unstoppable force in the industry. I am convinced this strategic acquisition will enhance our growth opportunities and enable us to achieve some of our longer-term goals and objectives at a much faster speed. I am also delighted to say I will continue to assist in the growth objectives of these combined businesses,” said James “Bubba” Turner, III, the grandson of the company’s founder and TAW’s president.
IPS provides solutions for power management, electro-mechanical and rotating assets. The company serves over 6,000 customers across a wide range of industries, including power generation, utilities, water and wastewater, petrochemicals, air separation, oil and gas, metals, mining, paper, aggregates, and cement. The company is headquartered in Greenville, S.C., and has 55 repair centers and field service offices across North America.
The source also reported that IPS acquired ABB’s U.S. and Canadian hydro generator rewind and transformer repair businesses, with a goal of expanding the IPS hydropower service and repair footprint while offering engineering, design history and technical skills for hydro generator service and repair up to 50 MW.
Source: Hydro Review
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