New State-backed Jones Industrial completed the acquisition of the rotating equipment segment of Universal Plant Services.

New State-backed Jones Industrial, a provider of installation, maintenance and repair of critical rotating and reciprocating equipment, completed the acquisition of the rotating equipment segment of Universal Plant Services, a specialist in rotating and reciprocating equipment services. Financial terms were not disclosed. "This partnership with New State represents a significant milestone for our company. 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," Reagan Busbee, Universal Plant Services CEO.