Searchlight-backed Integrated Power Services, a provider of servicing, engineering, and remanufacturing of electrical, mechanical, and power management assets, completed the acquisition of Houghton International, an electromechanical services provider specializing in the repair and remanufacturing of electric motors, generators, pump systems, and of electric coils for electric motors, generators, and alternators. Financial terms were not disclosed. “After 40 years of family ownership, I am thrilled to hand over the responsibility for future growth to IPS. I found a team in IPS that shares our values and mission to excel globally. I am proud of our innovations and achievements and grateful to our employees, suppliers, and customers who have supported us throughout my 19 years of leadership. As part of the transaction, I have invested in IPS, ensuring my continued involvement with the business. I look forward to collaborating with the IPS team to build a European network of electromechanical service and power management companies,” Michael Mitten, Houghton CEO.