Glasgow Daily Times, Glasgow, KY

January 9, 2013

MS purchased by Chicago equity firm

By SHELLEY SMITH
Glasgow Daily Times

GLASGOW — Madison-Smith Machine and Tool Co. has been purchased by a private equity firm, Industrial Service Solutions, based in Chicago.

On Wednesday, the Kentucky Secretary of State website featured an amendment of a company name change from Madison-Smith Machine and Tool Co. to Glasgow Machine and Tool Co.

Industrial Service Solutions Chairman and CEO Jim Rogers also confirmed the purchase via telephone interview Wednesday.

Rogers said Industrial Service Solutions invests in businesses with a mentality for growth and the goal of increasing job opportunities. He said he’s excited about the purchase and what they’ll be able to offer Madison-Smith.

A person who answered the phone at Madison-Smith on Wednesday afternoon denied the company had filed a change of name with the state despite the filing on the secretary of state’s website. They ended the phone call before being asked about the business sale.