Woodbridge International Closes Sale of Cortes Industrial to Integrated Power Services
May 23 2024 - 10:48AM
Woodbridge International, a global mergers and acquisitions firm,
is pleased to announce the acquisition of its client, Cortes
Industrial by Integrated Power Services.
Cortés Industrial, located near San Juan in Caguas, Puerto Rico,
is a leading electromechanical services provider specializing in
the repair and remanufacturing of electric motors, generators, pump
systems, and coatings for customers in the manufacturing, maritime,
construction, commercial, power generation, and water/wastewater
industries.
“We were overwhelmed by the response
and range of offers received during our selling process. After
thorough analysis, considering factors such as organizational
compatibility, culture, and alignment with our mission of
minimizing customer downtime, we found IPS to be the ideal partner.
Their understanding of our business, appreciation for our team, and
shared commitment to providing value to customers and employees
solidified our decision. Our team looks forward to partnering with
IPS,” said Enrique Cortés, Cortés CEO.
IPS, is a North American leader in the
servicing, engineering, and remanufacturing of electrical,
mechanical, and power management assets. Headquartered in
Greenville, South Carolina, IPS has the industry’s largest network
of locations, with service centers, distribution centers, and field
service offices across North America, combining industry-specific
experience with comprehensive engineering resources to
revolutionize reliability for customers. IPS is a portfolio company
of Searchlight Capital Partners.
Founded in 2010, Searchlight Capital
Partners is an investment firm dedicated to identifying and
developing outstanding global investment opportunities.
Woodbridge International’s ground-breaking approach to marketing
a company globally has transformed the way the sell-side M&A
Industry does business.
For more information, please contact Don Krier at
dkrier@woodbridgegrp.com or call, 203-389-8400 x201.