CWS Industries is the fourth acquisition for IES since September 2011.
International Equipment Solutions LLC (IES), Oak Brook, Ill., has acquired CWS Industries Manufacturing Corp. (CWS), Surrey, British Columbia, Canada, through an indirect, wholly owned subsidiary. This is the fourth acquisition by IES since its formation.
IES was formed in September 2011 as a platform for investments serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining and energy industries. Also in September the company acquired Paladin Brands Holding Inc. and Crenlo LLC from Dover Corp. In November 2011, the company retained Stephen Andrews as CEO to lead the integration of the first two acquisitions and to aggressively grow and globalize the company. As part of its globalization strategy, IES acquired Siac do Brasil, Ltda., a manufacturer of cab enclosures in Brazil, in June 2012.
CWS is a manufacturer of attachment products, including tire manipulators, cable reelers, grapples, buckets and various large excavator attachment products. Its customers include a global network of dealers and end-users in the mining, oil and gas, forestry and construction markets. CWS has facilities located in Surrey and in Edmonton, Alberta.
Andrews says, “The acquisition of CWS is another important step towards the globalization and diversification of IES. We are very impressed with CWS’s rapid growth trajectory, customer base, engineering capabilities and broad portfolio of highly engineered attachment products. This acquisition not only strategically enhances our footprint with dealers in Canada and the U.S. Pacific Northwest, but also opens up IES to a growing base of sales relationships located internationally in South America, Russia and Asia."
Additionally, IES says the acquisition enhances its product portfolio to include a suite of attachments with applications in the mining, oil and gas and forestry end markets. IES says it remains committed to supporting its customers’ global expansion initiatives with localized supply, technical resources and parts and service support. IES intends to invest significant additional capital and resources into CWS to ensure the highest level of production quality and capacity for its customers.