Bridgepoint Advises W-S Companies, a Leading Provider of Industrial and Mechanical Services, on Its Sale to Groome Industrial Service Group

March 19, 2024 – Bridgepoint Investment Banking’s (“Bridgepoint”) Industrials team acted as the sole financial advisor to W-S Companies (“W-S”) on its sale to Groome Industrial Service Group (“Groome”), a portfolio company of Argosy Private Equity.

W-S, headquartered in Council Bluffs, IA, is a leading provider of industrial and mechanical services to a variety of end-markets, including the power, utilities, refining, chemical, and manufacturing sectors, among others. The combination of W-S’s and Groome’s complimentary service offerings across cleaning, maintenance, and repair creates an industry leader with significant geographic and end-market reach.

“Groome is going to be a fantastic partner for W-S, our entire team could not be more excited about the partnership and the path forward. We enjoyed working with the team at Bridgepoint and learned a lot from them during this process and would certainly utilize them again in such a situation,” commented Troy Holm, President of W-S Companies.

“We are thrilled for Troy, Andy, John and the rest of the W-S Management team to have found such a complementary home for the entire W-S family. Groome and Argosy will be fantastic partners and it will be exciting to see these great service providers join forces and expand their offering across some growing and important industrial service markets,” commented Bryan Wallace, Managing Director and Industrial & Utility Services Team Lead. “We are excited to see continued traction in an industry we care about and spend a lot of time in – the utility services vertical is seeing tremendous tailwinds and investment interest, and we expect that to continue in 2024,” he added.

“We are incredibly excited to be a part of the process – this outstanding result allows for the continuation of the W-S legacy and an exciting vision for the future. Groome is a trusted, long-term partner and this combination allows the two entities to deliver even greater value to their clients and communities,” said Kate Loughran, Managing Director.

About Bridgepoint Investment Banking

Bridgepoint Investment Banking is a market-leading boutique investment bank that serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including transportation, industrials, healthcare, business and IT services, technology, and consumer and retail. Bridgepoint is a division of Bridgepoint Holdings NE, LLC, offering securities through their broker-dealer relationship with M&A Securities Group, Inc., an unaffiliated entity. Learn more about Bridgepoint at bridgepointib.com.

About W-S Companies

Founded in 1993, W-S Companies is an industrial and mechanical services company. Headquartered in Council Bluffs, Iowa, W-S is comprised of eight entities and has offices throughout the Midwest and Gulf Coast, serving power, food and beverage, refining, utilities, chemical, manufacturing, pulp and paper, municipal, upstream and downstream companies.