ICS Holding (Stellex Capital) Acquires Langford Electric

Stellex Capital Management Acquires Industrial Construction Services Holding (ICS)

January 15, 2025

Industrial Services

Stellex Capital Management, a New York-based middle-market private equity firm, has completed the acquisition of Industrial Construction Services Holding (ICS), a provider of mission-critical electrical and instrumentation services. Stellex plans to partner with ICS management to invest in organic growth and pursue strategic add-on acquisitions to expand the company’s service capabilities and geographic footprint across the United States.

ICS Holdings Acquires Funderburk Electrical Services

November 11, 2020

Electrical Services

ICS Holdings, a portfolio company of Stone Arch Capital, has acquired Knoxville-based Funderburk Electrical Services. FourBridges Capital advised Funderburk on the transaction; founder Jack Funderburk will retain an equity interest and COO Earl Norman will continue to lead the business reporting to ICS CEO Steve Lyon.

KSC Holdings Acquires Stansbury Electric Co.

November 8, 2024

HVAC & Mechanical

KSC Holdings, a Danville, Kentucky-based holding company focused on mechanical construction businesses, has acquired family-owned Stansbury Electric Co. of Louisville. The transaction, which closed November 8, 2024, was advised by Generational Group and expands KSC's holdings in plumbing, electrical, garage door and industrial supply services as it builds a regional mechanical services platform.

Stellex Capital Continuation Vehicle Acquires Interests in Fenix Parts

April 10, 2024

Automotive

Stellex Capital Management closed a single-asset continuation vehicle that acquired interests in Fenix Parts, providing follow-on capital to support organic growth and the company’s add-on M&A pipeline. Concurrently, Fenix refinanced its debt with TCW Private Credit Group as lead lender; Evercore served as financial advisor and Kirkland & Ellis and Greenberg Traurig as legal counsel.

LDR Partners' ICS Acquires Load Controls Incorporated

May 14, 2025

Manufacturing

Industrial Control Solutions (ICS), the controls and instrumentation platform backed by LDR Partners LP, acquired Load Controls Incorporated in a private transaction completed May 14, 2025. The deal was led and financed by LDR (via LDR Growth Partners Fund I LP) with financing support from Advantage Capital; founder/owner Mike McClurg and his family will work with ICS on the transition and future product development.

Astorg Acquires Majority Stake in Steliau

February 26, 2024

Industrial Services

Astorg, a European private equity firm, has signed an agreement to acquire a majority stake in Steliau, a pan-European value-added distributor (VAD) of electronic solutions, from B&Capital. Steliau, founded in 1992 and headquartered in Montrouge, France, employs more than 200 people across eight countries and will partner with Astorg to accelerate organic growth and execute a buy-and-build strategy.