FOR IMMEDIATE RELEASE – January 9, 2023
Triad Technologies, LLC (“Triad”), a leading distributor of fluid power, industrial automation and fluid conveyance products, announced today that it completed the acquisition of Industrial Service Products, LLC (“ISP” or the “Company”) on December 30, 2022. ISP is a value-added distributor of custom fabricated hose, valves, fittings, and other related products for the safe, efficient transfer of liquid and dry goods to a wide array of industrial customers. The Company is headquartered in Lyons, Illinois, where it has served regional customers since 1972. The business has a well-deserved reputation for strong technical capabilities, quality product lines, and extraordinary customer service. The combination of Triad and ISP creates a powerful platform to deliver value-added solutions to new and existing customers.
“We are pleased to welcome Steve Parker and the ISP team into the Triad family,” stated Greg Wissman, President and Chief Executive Officer of Vandalia, Ohio based Triad. “ISP’s broad offering of hoses, fittings, valves, loading, and safety equipment aligns nicely with Triad’s base of industrial customers and will complement our current offering of premium motion control and hydraulic products. Importantly, we share a common commitment to the highest levels of customer service, technical expertise, and support.”
Steve Parker, President of ISP added, “This combination is an exciting opportunity for our customers and employees. Triad’s additional resources and capabilities extend ISP’s ability to offer an even broader array of product categories that provide solutions for customer applications. And the combined company not only better positions ISP to meet the needs of its customers, but also creates growth and development opportunities for our employees.”
The acquisition of ISP is consistent with Triad’s strategy to expand its product offering and geographic presence. “ISP enhances Triad’s fluid conveyance and industrial hose capabilities, and it strengthens our footprint in Illinois and Indiana. Looking forward, Triad continues to seek acquisitions that expand its product breadth and geographic reach to better serve its customers,” stated Charlie Denison, Managing Director at Shorehill Capital LLC (“Shorehill”). Triad and Shorehill partnered in 2019; since that time, Triad has successfully executed numerous organic growth initiatives and ISP represents the partnership’s second acquisition.
Terms of the transaction were not disclosed.
About Triad Technologies, LLC
Triad Technologies, LLC is a leading distributor of hydraulic, pneumatic, electromechanical, filtration, lubrication, industrial hose, and automation technologies. Triad is a premier full-service stocking distributor, Hydraulic Technology Center (HTC), Pneumatic Technology Center (PTC) and Automation Technology Center (ATC) of Parker Hannifin. With 28 locations throughout Ohio, Indiana, Illinois, Michigan, and Kentucky, Triad provides product expertise, critical application knowledge and custom solutions to its customers with an emphasis on value-added services, including: technical support, 24/7 field service, and system design, hose assembly and repair service. For additional information, please visit www.triadtechnologies.com.
Triad is actively seeking acquisitions of distributors of fluid power, industrial automation and fluid conveyance products. Business owners, executives, and M&A intermediaries are encouraged to contact Doug Wissman and/or Charlie Denison regarding acquisition opportunities.
About Shorehill Capital LLC
Shorehill Capital LLC is a Chicago-based private equity firm with a passion for creating superior companies. Shorehill is focused on making equity investments in North American engineered industrial products, industrial services, and value-added distribution companies with EBITDA between $3 million and $15 million and add-ons of any size. Shorehill seeks opportunities with differentiated business models where its experience, network and investment management approach can have a significant impact on the performance of the business. For nearly 30 years Shorehill’s partners have worked with middle market business leaders to accelerate growth and improve operational performance through structured investment management plans. For additional information, please visit www.ShorehillCapital.com.