Transaction overview
Industrial Service Solutions (ISS), a portfolio company of Wynnchurch Capital based in Fort Lauderdale, Florida, completed its acquisition of MSHS and Pacific Power Group (MSHS & PPG) on February 10, 2026. The transaction value was undisclosed, as were the stake acquired and key terms beyond the announcement date of the same day. MSHS & PPG provides comprehensive maintenance, repair, and overhaul (MRO) solutions for power generation, marine, and national security industries.
Deal structure and financing
Details on the equity split, debt components, lead banks, leverage metrics, seller's retained stake, lock-up terms, and IPO optionality were not disclosed. Citizens Capital Markets & Advisory acted as exclusive financial advisor to MSHS & PPG in this transaction, while BakerHostetler served as legal counsel and Alvarez & Marsal provided financial due diligence support.
Strategic context
The acquisition aims to expand ISS's portfolio and capabilities within the MRO solutions market. MPE Partners, which sold MSHS & PPG, stated that it had transformed two respected brands into a leading independent provider of complex power and propulsion maintenance services through strategic mergers and investments in technical talent. The deal underscores the importance of specialized expertise and extensive OEM relationships for sustained growth in high-demand industrial segments.
Regulatory path
The regulatory review process is not detailed, but given the nature and size of the transaction involving significant MRO solutions operations, it likely involved antitrust scrutiny from U.S. federal regulators such as the Federal Trade Commission (FTC) or Department of Justice (DOJ). However, specific jurisdictions and timelines for reviews are undisclosed.