IEM Completes Acquisition of Florida Based Industrial Power Systems Inc. (IPS)
Thursday, October 13, 2011
Fremont, CA, October, 2011 – IEM, the largest independent full-line manufacturer of electrical and power quality equipment in the U.S., recently completed the acquisition of IPS (Industrial Power Systems Inc.). Acquiring IPS allows IEM to expand their product scope into the power control and marine industries as well as expanding their presence into the east coast.
Based in Jacksonville, Fla., IPS is a manufacturer of electrical power controls and switchgear specializing in custom design engineering for the marine and industrial applications. IPS prides itself on being able to design and build custom solutions and responding to unique customer requirements.
“IPS is a perfect fit for IEM,” said Ed Rossi, President and CEO of IEM. “It allows us to expand our market reach while maintaining our core business focused on providing customer-specific solutions with the highest quality power distribution equipment on the market.”
IEM has leased an 86,000-square-foot building in Jacksonville to ensure a smooth transition that will deliver immediate value for employees, customers, and partners.
“This acquisition will allow IPS to continue to serve our customer base and expand our capabilities,” said Bill Young, Founder and President of IPS. “After 30 years of commitment to providing solutions for our customers, we are looking forward to joining the IEM team”
Rossi added, “The integration of employees and technologies will enable us to accelerate investments, meet a wider set of customer needs, increase efficiencies and significantly expand our opportunities for growth.”
Headquartered in Fremont, CA, IEM is the largest independent full-line manufacturer of electrical distribution and power quality equipment in the U.S. For over half a century, IEM has delivered customer-specific solutions to meet the ever changing power requirements of growth industries in North America. At IEM, tradition and technology still drive innovation. An experienced engineering staff and one of the most flexible design and manufacturing systems in the industry set IEM apart from standard product manufacturers.