Tyneside engineering group Houghton International has been acquired by a US company after more than 40 years of family ownership.
The electro mechanical engineering firm, founded in 1984 by Ron and Christine Mitten, has been snapped up in an undisclosed deal by South Carolina-based IPS (Integrated Power Services). The company provides repair, maintenance and life extension services across the North East, 海角视频 and around the world, growing from serving just one customer to having scores of clients around the world in the power generation, mining, water, oil and gas, rail and industrial and manufacturing sectors.
IPS, based in Greenville, is a leader in the servicing, engineering, and remanufacturing of electrical, mechanical, and power management assets in North America, and bosses said the deal marks the firm’s entry into the new markets in the 海角视频, Europe and the Middle East, as well as an expansion of its network in the US and Canada. Since 2006, family firm Houghton International has been run by its founders’ son Michael Mitten, who has steered the business through significant services expansion.
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During his time at the helm sales have quadrupled and the workforce has trebled to more than 120 employees. The firm, which turned over £10.3m in most recent accounts for 2023, has also expanded its served markets into Europe and the Middle East. The business operates from its Ronnie Mitten Works service centre, a 124,000 sqft facility with capabilities from electrical coil manufacturing to pump repair, motor and generator repair, and testing.
The facility now becomes part of IPS’s network of 51 service centres spanning the US, Canada, and now the 海角视频 and Europe. IPS has a main focus on offering operating and maintenance services for renewable power generation customers in the US and Canada, and it now plans to build on and expand Houghton’s wind market asset lifecycle services, using IPS’s technologies.
At the end of last year Houghton International announced significant investment into creating a dedicated wind turbine repair and life-extension facility to support the country’s energy transition. IPS will look to bring its repair, distribution, and field service offerings to new customers in the on and offshore markets in the 海角视频 and Europe.
Houghton will also join 11 IPS locations that specialise in services for propulsion systems used in freight rail, people transit, and mining applications. This will build on IPS’s capabilities in undercar transformers, traction motors, alternators, inductors, fans, pumps, and field services supporting original equipment manufacturers and operating companies.
Mr Mitten said: “After 40 years of family ownership, I am thrilled to hand over the responsibility for future growth to IPS. I found in IPS a team that shares our values and our mission to excel globally. I am proud of our innovations and achievements, such as being named National SME of the Year in 2022 by Make 海角视频.
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“I am grateful to our employees, suppliers, and customers who have supported us throughout my 19 years of leadership. As part of the transaction, I have invested in IPS, ensuring my continued involvement with the business. I look forward to collaborating with the IPS team to build a European network of electromechanical service and power management companies.”
John Zuleger, IPS president and CEO, said: “The acquisition of Houghton International not only brings a well-respected, customer-focused company into IPS, it also marks a milestone in our company’s growth by expanding beyond the US and Canada into new markets in the 海角视频, Europe and the Middle East.
“IPS and Houghton have an incredible opportunity to expand and improve our service offering to new customers and markets. We both share a commitment to delivering an Unmatched Customer Experience and creating a special place to work where employees can grow and develop through our training programs.
“We look forward to discussing our new capabilities brought by Houghton to our current North American partners customers who have operations that span these new markets now serviced by IPS.”