FRP Corporate Finance delivers major cross-border deal for Houghton International

We’re pleased to have supported a significant cross-border, private equity-backed acquisition for Houghton International. Houghton International has been acquired by US-based Integrated Power Services (IPS), backed by Searchlight Capital.

Houghton is a leading electromechanical services provider with a global reputation for excellence. The acquisition represents a strategic platform for the US market-leader’s expansion plans into the UK and European markets.

Our Corporate Finance team led by Partner Phil Williams and supported by Associate Director Lucy Elliott acted as the lead adviser for the Houghton shareholders.

Phil Williams, Partner at FRP Corporate Finance, said: “Houghton International has a highly skilled workforce and a fine tradition of developing young North East apprentices. It is great news for the region that IPS will continue to invest in growth and build on the strong foundations created by the Mitten family, who have contributed so much to the local economy and leave behind a proud and rich legacy. We are delighted to have worked alongside our colleagues at Muckle and UNW to deliver a successful transaction for all involved.”

Michael Mitten, CEO of Houghton International, said: “After 40 years of family ownership, it was important to me for this transaction to be led by the very best advisers who would understand our values while bringing the technical expertise to handle the complexities of a cross-border, private equity transaction. It helped that the North East region is fortunate to have worldclass advisers here on our doorstep. We started working with the Newcastle team last year and they were outstanding throughout the process.

Legal advice was provided by Adam Rayner and Sophie Cragg at Muckle LLP, with tax advice provided David Ward at UNW.