International Equipment Solutions Acquires CWS Industries
International Equipment Solutions LLC (IES) has acquired, through an indirect, wholly owned subsidiary, CWS Industries (Mfg) Corp. This is the fourth acquisition by IES since its formation. Financial terms of the transaction were not disclosed.
IES was formed in September 2011 as a platform for investments serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy industries. IES’ first two acquisitions occurred in September 2011, when the company acquired Paladin Brands Holding Inc. and Crenlo LLC from Dover Corp. In November 2011, Stephen Andrews was retained as CEO of IES 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.