Tampa Armature Works has been sold to Integrated Power Services, a portfolio company of Searchlight Capital Partners

Tampa Armature Works

Tampa Armature Works (TAW), based in Riverview, Florida, is a fourth-generation, family-owned company and one of the industry’s largest independent operations. The company operates through four divisions – service centers, power systems, custom equipment and technical field services – and provides sales, service, custom manufacturing, maintenance and repair for electric motors, generators, transformers, switchgear, drives, pumps and rotating apparatus. TAW has 11 locations servicing customers in the southeastern United States, Caribbean, South America and internationally.

The Deal

After more than 100 years as a private, family-owned business, TAW’s shareholders sought a partner to support the company’s growth and first-class employee base. TAW hired Lincoln International due to its sector expertise, buyer relationships and exceptional process execution. Lincoln listened to the family shareholders’ objectives, counseled the business during the COVID-19 pandemic and designed a targeted process timed to take advantage of optimal business and industry conditions.

The acquisition of TAW expands the Integrated Power Services (IPS) service footprint and adds to its rotating equipment and electrical component service capabilities. TAW also brings a new service category to IPS with power systems, which operates as the exclusive distributor of Kohler standby generators for industrial, commercial and marine markets. Power systems also services Kohler and other generator brands assuring operational readiness. The terms of the transaction were not disclosed.

Our Perspective

Sean Bennis, Managing Director and co-head of Lincoln’s Industrials Group, commented, “TAW is a truly differentiated company with an unmatched breadth of solutions and best-in-class technical capabilities. IPS is a great home for TAW and will be a tremendous partner going forward with a proven track record in the space. We are thrilled to have had the opportunity to advise TAW on the transaction and look forward to the company’s continued growth in combination with IPS.”

Integrated Power Services

IPS is a North American solution provider for power management, electromechanical and rotating assets. The company serves more than 10,000 customers across a wide range of industries, including power generation, utilities, water and wastewater, petrochemicals, air separation, oil and gas, metals, mining, paper, aggregates and cement. Headquartered in Greenville, South Carolina, IPS has 55 repair centers and field service offices across North America, combining industry-specific experience with comprehensive engineering resources to deliver reliability to customers.

TAW Holdings Integrated Power Services Searchlight Capital Partners 2022 Connect with a Senior Team Member
Lincoln was a true advisor – they took the time to understand what was most important to all of the family shareholders and helped us achieve our collective objectives.
James Turner
President and Chief Executive Officer of Tampa Armature Works

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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.