Farwest Corrosion Control Company (Downey, California, USA), a leading provider of cathodic protection (CP) and corrosion control products, installation, and engineering services worldwide, announced that it has accepted a strategic investment from IMB Partners. IMB is a growth capital investment firm that works with businesses that support the electric and gas utility sector.
Farwest Corrosion describes itself as an industry pioneer and leader in CP and corrosion control services for industries that maintain underground and underwater infrastructure, storage systems, or other submerged metallic structures. “We accepted this investment to further strengthen and expand our business going forward and are excited about the partnership,” says Troy Rankin, president.
According to Farwest, IMB Partners is a leading middle-market private equity firm specializing in utility, industrial, and government contracting services. “IMB and Farwest share the values of family-owned businesses, and we see tremendous opportunities to build on the growth that the company has achieved, ” says Tarrus Richardson, founder and CEO.
Customers and suppliers have been advised about the partnership and exciting advancement. “This is about business continuity and opportunity for growth,” Rankin says. “As such, the Farwest management team and employees will continue with the company as we work to execute our plans.”
Farwest Corrosion recently completed major projects in Alaska and So. California and continues to work with customers to address their corrosion control needs with custom solutions. The firm also develops unique products like the DCPro Power Supply, Ref-Check VPR, and the AC-10 Portable AC Current Density Coupon/Probe to address customer challenges.
Source: Farwest Corrosion, www.farwestcorrosion.com.