Platte River Equity Portfolio Company, In-Place Machining Company, Acquires Cutting Edge Services Corporation
Milwaukee, WI – In-Place Machining Company, LLC (“IPM”), a globally-recognized service company focused on providing highly technical, precision on-site machining and measurement services to customers in the power generation, metal production, infrastructure, marine and defense industries, announced today that it has acquired Cutting Edge Services Corporation (“CES”). This acquisition expands IPM’s services to include industry-leading diamond wire sawing capabilities to a broad range of industrial end markets familiar to IPM.
“The acquisition of CES will expand IPM’s service and product offerings to include specialized diamond wire sawing and equipment,” said Dean Flint, CEO of IPM. “Tim Beckman has built CES by leveraging decades of experience in the industry, and we are excited for the partnership between our companies.”
The partnership will increase IPM’s exposure to hydroelectric and bridge-related work, while also diversifying end markets served by IPM through CES’ strong presence in the nuclear decommissioning and undersea industries. In addition, the transaction gives IPM a new location in the Ohio River Valley.
“Being located in Batavia, OH, CES will provide IPM with access to a region we have identified as having strong demand for existing IPM services and an attractive market for technician labor,” said Chris Metrusias, CFO of IPM.
About Cutting Edge Services Corporation
Headquartered in Batavia, OH, CES is a specialty diamond wire sawing, drilling and precision removal contractor, offering field services for concrete and metal cutting applications, both on land and undersea. CES’ worldwide markets include nuclear, hydro, locks and dams, heavy industrial, decommissioning, bridge construction and undersea pipes and platforms.
About In-Place Machining Company, LLC
IPM designs and develops specialized machine tool systems, and provides precision field machining and measurement services to a broad range of industries. IPM has more than 100 highly skilled employees in multiple locations as well as one of the largest inventories of dedicated on-site machining tools and systems in the country.