Founded in 1976, IPM is a provider of on-site precision field machining, diamond wire cutting, metrology and specialty welding
IPM services critical infrastructure and equipment in the field for a wide variety of end markets including marine, defense, hydro, metal production, nuclear decommissioning and power generation
Family-owned business looking for a partner to help accelerate growth and provide a leadership succession path
Investment Thesis
Industry: Increasing demand for field services due to aging infrastructure, accelerating trend toward outsourcing repairs, extended lead times for new equipment and a shortage of technical labor
Opportunity: Invest in a globally recognized brand with significant intellectual property
Strategy: Recruit key senior managers, expand service offering, broaden geographic reach and leverage IPM’s proprietary business system
Platte River Value Add
Hired CEO, CFO, VP of Operations, VP of Sales & Marketing and numerous mid-level managers
Expanded service locations from two to nine
Completed two add-on acquisitions that expanded breadth of services and increased market opportunity
IPM net sales grew 82%, profit margins expanded by 700bps and EBITDA more than doubled
