NEW HAVEN, Conn., May 23, 2024 (GLOBE NEWSWIRE) -- Woodbridge International, a global mergers and acquisitions firm, is pleased to announce the acquisition of its client, Cortes Industrial by Integrated Power Services.

Cortés Industrial, located near San Juan in Caguas, Puerto Rico, is a leading electromechanical services provider specializing in the repair and remanufacturing of electric motors, generators, pump systems, and coatings for customers in the manufacturing, maritime, construction, commercial, power generation, and water/wastewater industries.

“We were overwhelmed by the response and range of offers received during our selling process. After thorough analysis, considering factors such as organizational compatibility, culture, and alignment with our mission of minimizing customer downtime, we found IPS to be the ideal partner. Their understanding of our business, appreciation for our team, and shared commitment to providing value to customers and employees solidified our decision. Our team looks forward to partnering with IPS,” said Enrique Cortés, Cortés CEO.

IPS, is a North American leader in the servicing, engineering, and remanufacturing of electrical, mechanical, and power management assets. Headquartered in Greenville, South Carolina, IPS has the industry’s largest network of locations, with service centers, distribution centers, and field service offices across North America, combining industry-specific experience with comprehensive engineering resources to revolutionize reliability for customers. IPS is a portfolio company of Searchlight Capital Partners.

Founded in 2010, Searchlight Capital Partners is an investment firm dedicated to identifying and developing outstanding global investment opportunities.

Woodbridge International’s ground-breaking approach to marketing a company globally has transformed the way the sell-side M&A Industry
does business.

For more information, please contact Don Krier at dkrier@woodbridgegrp.com or call, 203-389-8400 x201.