| Work Detail |
Move marks US power management player’s entry into UK and European markets
US power management asset player Integrated Power Services (IPS) has acquired UK-based electromechanical services provider Houghton International.
Houghton specialises in the repair and remanufacturing of electric motors, generators, pump systems, and oelectric coils for electric motors, generators, and alternators for customers in the rail, power generation, industrial, water/wastewater, and mining industries.
The acquisition represents IPS’s entry into the new markets in the UK, Europe and Middle East and an expansion of its leading network of operations in the US and Canada.
Financial details of the transaction were not disclosed.
Houghton International is based in Newcastle upon Tyne and was founded in 1984 by Ron and Christine Mitten.
Since 2006, Michael Mitten has operated as Houghton’s chief executive and has led it into iservices expansion, resulting in a quadrupling of sales and a tripling of the employee base while expanding served markets into Europe and the Middle East.
Houghton has highly integrated operations at the Ronnie Mitten Works service centre, a 124,000-square-foot facility with capabilities from electrical coil manufacturing to pump repair, motor and generator repair, and testing.
This facility’s addition to IPS makes it part of a 51-location service centre network spanning the US, Canada, and now the UK and Europe.
As a leading aftermarket provider of operating and maintenance services for penewables customers in the US and Canada, IPS will now be able to build on and expand Houghton’s wind market asset lifecycle services with IPS’s technologies in power management, generator repair, pitch, and yaw systems, it said.
IPS will now look to bring its repair, distribution, and field service offerings to new customers in the on and offshore markets in the UK and Europe, the company added.
"After 40 years of family ownership, I am thrilled to hand over the responsibility for future growth to IPS," said Houghton chief executive Michael Mitten.
He added: “I found in IPS a team that shares our values and our mission to excel globally.
“I am proud of our innovations and achievements, such as being named National SME of the Year in 2022 by Make UK.
“I am grateful to our employees, suppliers, and customers who have supported us throughout my 19 years of leadership.
“As part of the transaction, I have invested in IPS, ensuring my continued involvement with the business.
“I look forward to collaborating with the IPS team to build a European network of electromechanical service and power management companies.”
IPS president and chief executive John Zuleger added “The acquisition of Houghton International not only brings a well-respected, customer-focused company into IPS, it also marks a milestone in our company’s growth by expanding beyond the US and Canada into new markets in the UK, Europe and the Middle East.
“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 and creating a special place to work where employees can grow and develop through our training programs.
“We look forward to discussing our new capabilities brought by Houghton to our current North American partners customers who have operations that span these new markets now serviced by IPS.” |
