Date
Feb 2020
Region
Alabama
We are pleased to announce the sale of our client, Plant Power and Control Systems, LLC, to a subsidiary of IES Holdings, Inc. The acquisition closed February 21, 2020 and details were not disclosed.
Plant Power and Control Systems, LLC (PPCS), located in Alabaster, Alabama, is a manufacturer and installer of custom-engineered power distribution equipment. The Company was founded in 1990. PPCS will become part of IES Holdings Infrastructure Solutions segment and continue to operate under the Plant Power & Control Systems name.
Located in Houston, Texas, IES Holdings (IES) is a publicly-traded holding company (NASDAQ: IESC) that owns and manages businesses that provide electrical contracting and other infrastructure services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, supported by Senior Vice President Mergers & Acquisitions Luan Ly, successfully closed the deal. Senior Managing Director Brian Hendershot established the initial relationship with PPCS.
“Seldom in my career have I come across such a textbook match between a seller and buyer, with all of the involved parties valuing each other highly, exhibiting flexibility at every bump in the road, and being committed to their synergies and unified vision of creating something better together,” said Goss.
“I am very happy for Ken Miller (Owner and General Manager of PPCS) and Patrick Whatley (Owner and Chief Engineer of PPCS) and excited to see what the future holds for them. I want to also thank Mike Rice and Will Albright and the rest of the IES team for their transparency and consistent communication, and I expect great things to come from this acquisition.”
If you’d like to explore other transactions our associates have supported in this industry, visit our dedicated Consumer Services page.
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