America’s IPS said it bought Newcastle-based electromechanical firm Houghton International to help it expand its international operations.
Houghton specializes in the repair and remanufacturing of electric motors, generators and pump systems across the rail, power, water and mining industries.
Terms of the deal were not disclosed by IPS, which focuses on servicing, engineering and remanufacturing electrical, mechanical and power management equipment. The acquisition represents IPS’s entry into new markets in the UK, Europe, and the Middle East and an expansion of its leading network of operations in the US and Canada.
“After 40 years of family ownership, I am thrilled to hand over the responsibility for future growth to IPS,” said Michael Mitten, CEO of Houghton. “I found a team in IPS that shares our values and mission to excel globally. I am proud of our innovations and achievements and grateful to our employees, suppliers, and customers who have supported us throughout my 19 years of leadership.”