Acquisition Strengthens EQI’s Leading Position as Full-Service Solutions Provider for Major OEMs
Spring Lake, MI – EQI Ltd. (“EQI”) announced today that it has acquired Industrial Paint Solutions (IPS), a leading supplier of repair, vendor managed inventory (VMI) and finish painting services located in Craigavon, Northern Ireland. This transaction brings enhanced service capabilities to EQI, which partners with the world’s leading original equipment manufacturers (OEMs) to seamlessly manage global supply chain needs.
IPS was founded in 2011 by Richard Graham, who still leads the business today, now as part of EQI. The company provides finish painting services (both wet and powder coatings), counterweight repairs, VMI, and other services to OEMs. Reliable finish painting is critical to the usability of castings, which will now be handled by EQI in-house in the Craigavon facility.
Since its founding in 2004, EQI has established itself as a leading global provider of critical supply chain management services, including sourcing, manufacturing and logistics, for OEMs who procure metal castings. With the broadest foundry partnership relationships in the industry and locations across Michigan, Beijing, Coimbatore (India) and Hanoi (Vietnam). To support its services, the company maintains an industry-leading network of over 50 foundry partnerships in China, India, and Vietnam. EQI serves industrial companies across diverse end-markets. Those markets include material handling, aerial work platform, construction, oil and gas, forestry, and agricultural industries. When OEMs need support across engineering, logistics, designing a new product or now, painting and repairs, EQI provides a “one-stop-shop” to meet their needs.
“IPS has been a class leading supplier to EQI since its inception and we are glad to now bring their reputation for exceptional VMI and finish painting capabilities to EQI’s scope of services,” said Blake Phillips, CEO of EQI. “We’re all about making the supply chain easier to navigate for our customers and having IPS as part of our service offering will strengthen our ‘best in class’ service capabilities.”
“There is no greater compliment than when a customer whom you service wants your team to become part of their team. We’re excited to be part of EQI’s unparalleled supply chain management services for OEMs who rely on us for top-quality finished castings,” said Richard Graham, Founder of IPS.
About EQI, Ltd.
EQI simplifies the global supply chain for the world’s leading heavy-equipment OEMs. The company’s one-of-a-kind foundry network delivers high-quality metal castings, forgings, and fabrications on-time and on-budget. With a team of experts and locations in the U.S., China, India, Europe, and Vietnam, EQI’s tailored solutions mitigate risk and contain costs for manufacturers worldwide.