OH&S_TLB_8.24.20

Shermco Industries acquires Ready Engineering

Press Release from Shermco Industries Inc

IRVING, Texas, Jan. 12, 2021 /PRNewswire/ -- Shermco Industries, Inc. ("Shermco"), announced today it has acquired Ready Engineering ("Ready"), a leading specialty engineering business, based in Alberta, Canada and Olympia, Washington. The Ready management team will remain with the company following the acquisition.

(PRNewsfoto/Shermco Industries)

Shermco Industries, Inc. has acquired Ready Engineering, a leading specialty engineering business

Ready is a specialty industry-leading provider of electrical, controls and industrial information systems. It operates in a diverse range of sectors across North America. Its specialty services include design and field engineering, power system designs, NERC/CIP compliance testing, control system installations and upgrades, and other engineering services.

The combination of Shermco and Ready immediately provides the firm's collective customers with a unique and market-leading bundled services offering, while simultaneously broadening Shermco's reach into new and developing markets.

"Shermco is very pleased to welcome Ready to the family. The acquisition delivers on our strategic objective of expanding our specialty electrical engineering capabilities to our customers across our core service offerings. As the leading independent provider of electrical testing, maintenance, and repair services in North America, Shermco is also focused on market-leading electrical and engineering capabilities. The acquisition provides us with further depth in power, transmission and distribution, and oil and gas system protection," said Tom Bartolomei, Shermco CEO.

Lee Ready, Founder of the Ready companies, said, "The Ready group has been looking for a partner like Shermco, with complementary operations in the U.S. and Canada, a strong marketing team, and deep administrative support that our engineering teams can leverage to do what they do best – engineering. We are fortunate to have found such a perfect fit and are excited about the opportunities this presents for our engineering groups."

"We are excited to combine Ready's niche skills with Shermco's national reputation. Joining Shermco provides exposure to the North American market that we simply can't develop on our own," said Jeff Whitt, Ready's President. "Combining the engineering skills we've developed over our 25-year existence with Shermco's expertise and reputation will allow us to make stronger offers to a broader range of clients."

About Shermco

Headquartered in Irving, Texas, Shermco provides electrical testing, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 25 locations, Shermco serves a diversified blue-chip customer base across North America. The Company is an active participant in NETA, EASA, and AWEA. Shermco is majority-owned by San Francisco-based Gryphon investors.

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SOURCE Shermco Industries Inc