Milwaukee, WI



Investment Status


Investment Date

Nov 2016

Realized Date

Sep 2021

Sold to

Levine Leichtman Capital Partners

Company Information (At Exit)

Investment Thesis

Platte River Value Add

Company Information (At Exit)

  • 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


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