Private Equity Firm Enters Agreement with IMS

Wellspring Capital Management LLC, a private equity investment firm, has entered into a definitive agreement to acquire International Mill Services Inc., a Horsham, Pa., firm from GSC Partners.

International Mill Service provides outsourced industrial services, primarily to the steel industry.

International Mill Service, Inc. provides slag processing, metal recovery, materials handling, scrap management, surface conditioning and a wide range of specialty services to the North American steel industry.

Last year the company acquired the assets of JW Aluminum, a South Carolina-based manufacturer of flat rolled aluminum products.