Industrial Inspection & Analysis Acquires IHI Southwest Technologies, Inc. From IHI Corporation
SAN ANTONIO, May 1, 2020 (Newswire.com) - Industrial Inspection & Analysis, Inc.™ (“IIA”) – a leader in providing inspection, testing, and analytical services – expands its service offerings with the acquisition of IHI Southwest Technologies, Inc. (“ISwT”) from IHI Corporation, a publicly-traded Japanese industrial firm. Based in San Antonio, TX, ISwT is a non-destructive testing and engineering services company with a 21-year history of providing inspection and engineering services to the nuclear industry both domestically and internationally. In conjunction with the transaction, ISwT will rebrand to IIA Nuclear Services.
Founded in 1999, ISwT has positioned itself as a technological leader in advanced non-destructive testing methods throughout the world. In addition to conventional testing methods, the company has a broad array of proprietary technology with significant commercial potential. A full-time staff of non-destructive testing examiners and engineers enables ISwT to maintain the level of quality vital to the success of nuclear utilities around the world.
“The acquisition of ISwT expands Industrial Inspection & Analysis’s reach into the nuclear power generation space and strengthens our already deep bench of talent,” states Chris Niebuhr, CEO of IIA. “We are excited to welcome the ISwT team and customers to IIA and we look forward to providing greater value to existing customers while attracting new ones.”
ISwT is IIA’s 15th acquisition since its inception. This transaction continues IIA’s strategy of building a nationwide inspection and testing company that holds a competitive advantage and offers a strong value proposition to a long list of customers in a wide variety of end markets.
ISwT was represented by Lawrence (Larry) Schumann of Statesman Corporate Finance and George Kurisky, Jr. and Scott Franck of Johnson DeLuca Kurisky & Gould. IIA was represented by Roger Mitchell and Thomas Ryan of Nelson Mullins Riley & Scarborough.
About Industrial Inspection & Analysis.
IIA is a high-growth inspection, testing, and analytical business committed to providing story-worthy service even through the most challenging situations. To learn more about the IIA family of companies, visit industrial-ia.com.
Source: Industrial Inspection & Analysis
Categories: Mergers and Acquisitions