KCM Capital Partners LLC (KCM), an investor in lower middle-market business services, value-added distribution and specialty industrial companies, announced that it has completed the acquisition of Industrial Valve Sales & Services, LLC (IVS) headquartered in Mobile, Alabama. The transaction was completed in partnership with Company management, PNC Mezzanine Capital based in Pittsburgh, Pennsylvania and Five Points Capital located in Winston-Salem, North Carolina. Terms of the transaction were not disclosed.
Founded in 1975, IVS is a provider of specialty valve services and products, including inspection and repair services, new valves and parts, and refurbished valves to hundreds of blue-chip customers across the Southeastern United States. IVS’ rich history of safe and high-quality operations has established the Company as a well-respected provider of mission-critical support for its clients’ industrial valve needs, ensuring safe and consistent uptime within customer facilities throughout various industrial end markets.
Former Company owners, Donald Williams, and James Harrell, Jr., built the business over nearly 45 years before deciding to sell to KCM in order to position the Company for enhanced growth. Consistent with KCM’s investment philosophy – Keeping Continuity Matters – IVS will continue operations under its current name, and IVS’ President Bart Middleton, supported by a deep senior management team, will continue to oversee day-to-day operations of the business.
Hancock Capital Management provided senior debt financing in support of the transaction, while Katten Muchin Rosenman LLP served as legal counsel to KCM.