IPS-Integrated Project Services to buy majority of Cardinal Group
Summary
Bill Held added, “Cardinal was founded in 2014 with the mission of building a team of highly specialized and talented construction management professionals that could assist clients in the life science industry execute critical projects. With an established team and a strong track record of successfully completing projects for our clients, we are now ready to accelerate our growth by partnering with a larger organization that shares our values and approach to business. David Van Geyzel, President and Chief Executive Officer of Alleghany Capital, commented, “This transaction will expand IPS’s presence in one of the leading and fastest growing biopharmaceutical hubs in the country and is consistent with its strategy of supplementing organic growth with targeted add-on acquisitions. Alleghany Capital’s industrial businesses include: (i) Bourn & Koch, Inc., a manufacturer of specialty machine tools and a supplier of replacement parts, accessories, and services for a variety of cutting technologies; (ii) R.C. Through operational expertise and industry-leading knowledge, skill and passion, IPS provides consulting, architecture, engineering, construction management, and compliance services that allow clients to create and manufacture life-impacting products around the world.
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