Charlotte, NC - Bundy Group, a 32-year-old investment bank, announces that it has advised a consortium of three Western U.S.-based companies (collectively known as “Pacific”) in a consolidated sale to Integrated Power Services (“IPS”), a North American leader in service, repair, and engineering for electric motors and generators. IPS is a portfolio company of Searchlight Capital Partners, a global private equity group. A+ Electric Motor (“A+” or the “Company”), owned by Joe and Chuck Perry, was a member of Pacific. Industrial Electric Machinery and Reed Electric & Field Service were Pacific participants as well.
Founded in 1999, A+ offers complete pump and motor repair services through repair facilities in Billings and Butte, Montana. The Company‘s client end markets include power generation, industrials, oil & gas, and agriculture. In addition, A+ services clients across a five-state region, which includes Montana, Wyoming, Idaho, and the Dakotas.
As a member of the Pacific consortium and IPS, A+ joins a group of complementary electrical apparatus, automation, industrial equipment repair, and field services organizations that deliver solutions across the Western U.S. Pacific includes a total of seven facilities, over 100 employees, and a service region covering 12 states.
Joe Perry, General Manager of A+, further commented, “Bundy Group was thorough in all phases of the sale process, worked non-stop, and had a relentless focus on delivering value for its clients.” Joe further elaborated, “The Pacific sale provided A+ shareholders a substantial premium relative to offers we had received before hiring Bundy Group, and it gave us the opportunity to reinvest into IPS and realize additional future gains.”
Clint Bundy stated, “Bundy Group is a specialist in the energy & power, automation, and industrial services industries, and the success of the Pacific engagement is a major achievement for our firm.” Clint further added, “A+ is the dominant electrical apparatus solutions provider within a five-state region, and the Company’s management team is second to none. Bundy Group appreciated the opportunity to represent A+, and we are excited to see the A+ leadership team grow in partnership with Pacific and IPS.”
Stewart Carlin with Bundy Group said, “Our work on behalf of the Pacific clients, including A+, involved Bundy Group helping to articulate the vision of what a combined Pacific entity could look like and the steps to integrate the entities, all with the goal of demonstrating to the market that A+ and the other Pacific members demanded a platform-sized valuation.” Stewart added, “We enjoyed working in collaboration with the A+ team to achieve such an outstanding outcome.”
Regarding A+’s new partnership, Joe Perry stated, “The rapidly growing market in this part of the country has always been challenging for us to stay on pace with—to provide the level of service to our customers that they demand. By partnering with the Pacific team and IPS, we’ll be able to accelerate the customer-focused growth that our customers have come to know and expect.”
“Rarely does a company have an opportunity to acquire three well-run companies at once, with such distinguished records, that share the IPS goal of becoming their customers’ trusted advisor,” said John Zuleger, IPS President and CEO. “Adding these businesses to IPS will accelerate offering our industry-leading services to the Western U.S. and advance our reach as the highest quality, closest provider of power, electro-mechanical, and rotating equipment services in North America.”
The A+ transaction was led by Clint Bundy and Stewart Carlin, Managing Directors with Bundy Group. Lorenc Biqiku and Megan Hagemann, Vice Presidents with Bundy Group, also worked on the Pacific transaction team.
Bundy Group has significant experience in the energy & power, automation, industrial services, and business services sectors, and has previously advised clients including MR Systems, RAM Industrial Services, Koontz-Wagner, and Dorsett Controls. For more information about our industry expertise and other recent transactions, visit Industry Expertise - Bundy Group.
About Bundy Group
Bundy Group is an industry-focused investment bank that specializes in representing business owners and management teams in business sales, acquisitions, and capital raises. The team of highly experienced investment bankers leverages extensive industry knowledge and experience to provide hands-on guidance to clients through every phase of the transaction. With more than 250 closed deals over the past 32 years, Bundy Group’s primary goals are to provide high quality options and actionable insights and to deliver an optimal strategic fit at a premium value for our clients.
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