Searchlight Capital Partners’ Acquisition of Integrated Power Services

Weil, Gotshal & Manges advised Searchlight Capital Partners on the deal.

Funds advised by Searchlight Capital Partners, L.P., a leading global private investment firm, announced a definitive agreement to acquire a majority stake in Integrated Power Services (“IPS”), a leader in industrial aftermarket services. Searchlight acquired the Company from funds advised by Odyssey Investment Partners, LLC (“Odyssey”). Terms of the agreement were not disclosed.

Founded in 2007 and headquartered in Greenville, South Carolina, IPS provides maintenance, repair and replacement solutions for critical process equipment serving industrial and renewable energy end-markets in North America.

Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles.

The Weil team advising Searchlight Capital Partners was led by Global Private Equity Co-Head Douglas Warner (Picture) and included Private Equity partner Brian Gingold and Private Equity associates Corey Katz, Sam de Blecourt, Katherine Adams (Not Yet Admitted in New York) and Caitlin Haefner (Not Yet Admitted in New York). The team also included Banking & Finance partner Allison Liff; Banking & Finance associates Dylan Scher, H.T. Flanagan, Kaitlin Bond (Admitted in New York Only) and William Keller; Tax partner Hillel Jacobson; Tax counsel Adam Arikat; Tax associate Andrew Lawson (Admitted in Arkansas Only); Executive Compensation & Benefits Head Paul Wessel; Executive Compensation & Benefits associates Manleen Singh (Admitted in Illinois Only) and Joshua Ehrhart (Not Yet Admitted in New York); Technology & IP Transactions/Privacy associates David Merck, Maryann Thompson and Alex Theuer (Not Yet Admitted in New York); Environmental Head Annemargaret Connolly; Environmental counsel Thomas Goslin; Regulatory Transactions associate Ariel Fliman; and Employment Litigation associate Elizabeth Casey.

Involved fees earner: Katherine Adams – Weil, Gotshal & Manges; Adam Arikat – Weil, Gotshal & Manges; Kaitlin Bond – Weil, Gotshal & Manges; Elizabeth Casey – Weil, Gotshal & Manges; Annemargaret Connolly – Weil, Gotshal & Manges; Sam de Blecourt – Weil, Gotshal & Manges; Joshua Ehrhart – Weil, Gotshal & Manges; H.T. Flanagan – Weil, Gotshal & Manges; Ariel Fliman – Weil, Gotshal & Manges; Brian Gingold – Weil, Gotshal & Manges; Thomas Goslin – Weil, Gotshal & Manges; Hillel Jacobson – Weil, Gotshal & Manges; Corey Katz – Weil, Gotshal & Manges; William Keller Jr. – Weil, Gotshal & Manges; Allison Liff – Weil, Gotshal & Manges; David Merck – Weil, Gotshal & Manges; Dylan Scher – Weil, Gotshal & Manges; Manleen Singh – Weil, Gotshal & Manges; Maryann Thompson – Weil, Gotshal & Manges; Douglas Warner – Weil, Gotshal & Manges; Paul Wessel – Weil, Gotshal & Manges;

Law Firms: Weil, Gotshal & Manges;

Clients: Searchlight Capital Partners, L.P.;