KLH Capital is pleased to announce that its portfolio company, Mid-State Machine and Fabricating, Inc. (“Mid-State”) has completed the acquisition of International Machine & Welding, Inc. (“IMW”). The purchase of IMW enables Mid-State to develop a dedicated pump rebuilding facility and increase its overall fabrication capacity. The IMW purchase also gives Mid-State the distinction of having the largest boring mills in the entire Southeast, which is critically important to the company’s commitment to servicing its customers large pump rebuilding needs.
Mid-State CEO, Hal Kersey, explained, “the addition of IMW significantly increases our pump business and eliminates congestion in our general mechanical facility where such jobs were previously handled. It also brings on board the capability to better serve our power generation and aggregate customers.” Mid-State’s existing capital partners provided the funding for the transaction. “We are thankful to KLH Capital for their guidance throughout the acquisition process and look forward to capitalizing on this growth opportunity.”
Mid-State is a leading provider of outsourced fabrication, maintenance, and field services to the mining, chemical, power, and general manufacturing industries. Since its founding in 1973, Mid-State has grown into a complete industrial services organization serving the mission-critical needs of its customers across the country, and has expanded its facility into one of the largest machine and fabricating shops in the southeastern U.S.
ABOUT KLH CAPITAL
KLH Capital is a fully capitalized SBIC private equity fund managing $300 million across three funds with a focus on value added distribution, specialty service, and niche manufacturing companies based in the U.S. with at least $10 million in revenue and $2 million in EBITDA. During our nearly 30-year business tenure, KLH Capital has invested over $750 million across more than 130 transactions giving us the experience and background to successfully nurture growing companies and create value for owners.
For more information, please contact Will Dowden ([email protected]).