Universal Plant Services’ Rotating Segment Acquired by New State Capital Partners
New State Capital Partners (“New State”) and Jones Industrial Holdings (“JIH”) announced today the separation and New State’s subsequent acquisition of Universal Plant Services’ rotating equipment segment.
- Reagan Busbee, Chief Executive Officer; Paul Stouffer, President; and Deana Haygood, Chief Financial Officer will continue in their leadership roles and UPS will remain headquartered in Deer Park, Texas.
- JIH will retain the non-rotating equipment services (UPS Industrial Services), instrument & electrical (“UPS I&E”) and manufacturing equipment installation (“UPS M&T”) segments.
- Full Press Release Here.
“This partnership with New State represents a significant milestone for our company,” said Reagan Busbee, CEO of UPS. “Coupling our team’s technical expertise and long-term client relationships with New State’s operational support and financial resources, will be invaluable as we execute on our growth strategy. This targeted operating strategy makes us even more desirable as a partner, and we’ll be even more competitive as we recruit, hire, and retain the most highly skilled craftspeople in the industry. We are confident in a bright future for UPS with New State by our side.”
