Company Description
Industrial Process Measurement, Inc. (“IPM” or the “Company”) is a leading provider of calibration services, as well as test and measurement equipment, to a dedicated customer base across the United States. Headquartered in Edison, New Jersey, with a second laboratory in Pennsylvania, IPM provides premium calibration services to the tri-state area and beyond via both its ISO 17025 certified laboratories — as well as on-site at its customers facility. Over the last 25+ years, the Company’s dedicated base of technicians has established a reputation for providing exemplary electrical, mechanical, pressure, temperature, torque, force, optical, and many other specialized calibration services.
Services Provided
MelCap had the distinct pleasure of serving as the exclusive investment banker and financial advisor to IPM through the sale of the business. We would like to thank the Company’s shareholders, Mark Gural and Sal Anello, for selecting MelCap to represent IPM in the transaction. It was an honor and pleasure to work with the Company throughout this exciting process. This transaction bolsters MelCap’s expertise within the calibration, test, and measurement vertical — as the sale of IPM marks MelCap’s third calibration deal over the last 12 months!
The Result
In an effort to achieve ownership’s goals and objectives, and to support the Company’s strategic growth plans, MelCap identified the ideal buyer for the business. As a result, IPM was sold to Accredited Labs — a national leader in calibration services, based in Dallas, TX. Accredited Labs offers calibration solutions for a wide range of mission-critical test and measurement equipment, as well as complementary repair services and sales. Since the acquisition by Incline Equity Partners (“Incline”), a Pittsburgh, PA based private equity firm, Accredited Labs has grown substantially — both organically, as well as through strategic acquisitions. IPM represents an important acquisition for Accredited Labs, as it marks its most significant expansion into New Jersey and the surrounding tri-state area — including New York City, New York.
Deal Team
We would also like to thank the deal teams from both sides that worked on this transaction. We could not have completed this transaction without your tireless efforts. More specifically, we’d like to thank Taft Stettinius & Holliser, LLP (IPM’s counsel), PricewaterhouseCoopers (Accredited Labs’ accounting advisor), and K&L Gates (Accredited Labs’ counsel).
After 30+ years of hard work and dedication, my partner and I initially opened up conversations with prospective buyers without a professional advisor… and we quickly realized that it was in our best interest to retain an M&A expert with significant experience working with calibration businesses – leading us to MelCap. From the very beginning, the MelCap team worked relentlessly to identify and assess value in the business we didn’t even realize existed. After dialogue with a number of logical suitors, MelCap put together a deal with the right buyer that we are 100% satisfied with. This is not an easy process, and MelCap took almost all the “sell stress” off our backs, and let us run the company like nothing was going on. The process tests your emotions – and MelCap was always there to calm us down, strategize, and look out for our best interests in all respects. Honestly, I don’t think we would have survived this process without the MelCap team on our side. In the end, hiring MelCap was probably the single smartest business decision we ever made.
