Integrated Power Services (IPS), a prominent player in US power management assets, has completed the acquisition of Houghton International, a UK-based electromechanical services provider.
Houghton International specializes in repairing and remanufacturing electric motors, generators, pump systems, and electric coils for various industries including rail, power generation, industrial, water/wastewater, and mining.
This acquisition marks IPS's entry into new markets in the UK, Europe, and the Middle East, expanding its operations beyond its existing network in the US and Canada. Financial terms of the deal were not disclosed.
Founded in 1984 by Ron and Christine Mitten, Houghton International is headquartered in Newcastle upon Tyne. Michael Mitten has served as the company's chief executive since 2006, overseeing significant growth in sales and the employee base, while expanding market reach into Europe and the Middle East.
The Ronnie Mitten Works service center, spanning 124,000 square feet, plays a pivotal role in Houghton's operations, offering a range of services from electrical coil manufacturing to pump and motor repairs.
With this acquisition, IPS adds Houghton's facility to its network of 51 service centers across the US, Canada, UK, and Europe.
IPS, known for its aftermarket services in the renewables sector in the US and Canada, aims to leverage Houghton's expertise to enhance its wind market asset lifecycle services. This includes integrating IPS technologies in power management, generator repair, pitch, and yaw systems.
Furthermore, IPS plans to extend its repair, distribution, and field service offerings to new customers in the on and offshore markets in the UK and Europe.
Michael Mitten, CEO of Houghton International, expressed his excitement about the acquisition, stating, “After 40 years of family ownership, I am thrilled to hand over the responsibility for future growth to IPS. I found in IPS a team that shares our values and our mission to excel globally.”
He continued, “I am proud of our innovations and achievements… I am grateful to our employees, suppliers, and customers… As part of the transaction, I have invested in IPS, ensuring my continued involvement with the business.”
John Zuleger, president and CEO of IPS, highlighted the strategic significance of the acquisition, emphasizing the expansion into new markets and the opportunity to enhance service offerings. He stated, “IPS and Houghton have an incredible opportunity to expand and improve our service offering to new customers and markets… We both share a commitment to delivering an Unmatched Customer Experience.”
