Thompson Industrial recently acquired Petrochem Services Group (PSG), expanding Thompson’s presence in Houston and strengthening PSG’s ability to meet all customers’ specialty industrial cleaning needs. IVS Investment Banking, a leading provider of merger and acquisition (M&A), recapitalization, management-led buyout, private placement and consulting services, advised in the transaction.
“PSG’s strong safety, quality and integrity focus has served the Houston terminal market well,” said Thompson President and CEO Josh Chambers. “As part of Thompson’s greater family, the PSG team will be able to offer existing customers a broader range of services and continue to grow its customer-centric reputation.”
Barry Seabranch, founder of PSG, added, “We are looking forward to becoming a part of an organization such as Thompson Industrial in order to increase our Houston market presence and to provide all of our current customers with expanded services. The Thompson mindset complements Petrochem Services Group, which is to go above and beyond in safety and service.”
With the addition of PSG’s specialized tank cleaning and vapor control to its portfolio of industrial cleaning services, Thompson is strategically positioned as a single-source provider for the petrochemical market in Houston and the Gulf Coast.
Focused on middle and lower middle market deals, IVS works with owners and management teams to acquire and sell manufacturing, distribution and service-oriented businesses associated with the energy industry. The principals of IVS have decades of experience aimed exclusively at the industrial market. IVS is a sister company to BIC Magazine, which gives it unparalleled visibility and access to the energy verticals.
“IVS is a fantastic investment banking partner,” Chambers said. “Their experience in the industrial market enabled PSG to provide the context Thompson needed to effectively evaluate fit, model, verify and close a win-win deal.”