Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of IPS Corporation (IPS), a portfolio company of Nautic Partners, LLC (Nautic), to funds associated with Sherman Capital Holdings LLC and other investors (collectively, Sherman Capital) through Sherman Capital’s existing portfolio company, Encapsys LLC. The two companies will operate together as Cypress Performance Group (CPG). IPS is a leading manufacturer of solvent cements, structural adhesives and specialty plumbing and roofing products. Harris Williams & Co. served as the exclusive advisor to IPS. The transaction was led by Mike Hogan, Ryan Nelson, Tim Webb and Trey Packard of Harris Williams & Co.’s Industrials Group.