Harris Williams Advises Integrated Global Services, Inc. on its Sale to J.F. Lehman & Company

February 4, 2020

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Integrated Global Services, Inc. (IGS), a portfolio company of Industrial Growth Partners (IGP), on its sale to an investment affiliate of J.F. Lehman & Company (JFLCO). IGS is a leading provider of on-site high velocity thermal spray cladding, ceramic protection and other engineered products to solve metal wastage and reliability problems for some of the world’s most valuable, mission-critical equipment. The company leverages proprietary technology and deep experience to prevent equipment failure, extend service life and minimize outage downtime across the energy, power generation and other industrial end markets. The transaction was led by Matt White, Drew Spitzer, Neha Shah and Thomas Saunders of the Harris Williams Energy, Power & Infrastructure (EPI) Group.

“The IGS team has developed a diversified suite of unique, proprietary solutions, which has established the company as a preferred provider for surface protection solutions across the globe,” said Matt White, a managing director at Harris Williams. “The sale of IGS adds to our strong resume of advising market-leading providers of outsourced industrial and infrastructure services.”

“We are very excited and see a bright future for IGS as it carries momentum into its new partnership with JFLCO and continues to expand its customer reach and execute a number of key growth initiatives,” said Drew Spitzer, a managing director at Harris Williams.

Based in Richmond, Virginia, IGS is a global company with over 30 years of experience in providing in-situ thermal spray, ceramic coatings and other custom-engineered surface protection solutions that focus primarily on metal wastage reduction, corrosion mitigation and emissions reduction.

“We cannot be more pleased with our relationship with IGP and our new partnership with J.F. Lehman & Co. as we continue growing the most trusted provider of on-site surface solutions in the world,” said Rich Crawford, president and CEO of IGS since 2009. “Over the next several years, we plan to continue our strategic global expansion; hiring, developing, and cultivating the very best people in the industry; and retaining our commitment to superior customer results.”

IGP, founded in 1997, is a San Francisco-based private equity investment firm with $2.2 billion of equity capital raised since inception. The firm invests exclusively in middle market companies in the industrial sector in partnership with management teams.

Founded in 1992, J.F. Lehman & Company is a leading middle market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors. The firm has offices in New York and Washington, D.C.

The Harris Williams EPI Group has experience across a broad range of sectors, including industrial and infrastructure services; oil and gas equipment and services; utility services; testing, inspection and certification; energy efficiency and clean tech; power products and technology; engineering and construction; and environmental services. For more information on the firm’s energy, power, and infrastructure experience, please visit the EPI Group’s section of the Harris Williams website.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.