International Business Exchange (IBEX) successfully brokered the sale of the business Washington Iron Works Inc. in Sherman, Texas on August 5, 2015 to private corporation. IBEX acted as the merger and acquisition advisor to the deal, helping the business owner list, market, wade through buyers, due diligence and close the deal. The Company was founded in Sherman, Texas in 1876 originally as a blacksmith service for the manufacturer of wheels for stagecoaches and freight wagons. The Company was given the official operating name of Washington Iron Works in 1881. The Totten Brothers operated the business from generation to generation passing the Company from one generation to the other. In 1938, the Company closed the foundry section. During World War II, the Iron Works made gun barrel molds. Since then, this industry, the oldest in Sherman, has expanded to include turbine engines, and compressors. The Company services petrochemical plants, oil & gas refineries and marine interests throughout the hemisphere. In 1983, the Company reopened a modern non-ferrous foundry for the production of bronze and aluminum permanent mold castings. The Company produces quality bearings from bronze and aluminum using castings from the Company-owned foundry. A continuous quality assurance procedure tracks each melt, a precise mixture of new ingots and internally generated chips/remnants, through the centrifugal casting process, heat treatment “Aluminum” rough machining inspection. The Company has been the benchmark in field service for over 100 years as a pioneer in the development of equipment and procedures for cost effective and reliable results. The Company performs (straight & tapered) crankpins, flywheel fits. They align boring of mainframes and cylinders as well as keyway machining along with many other milling capabilities. Additionally, they offer equipment alignment & run out detection – correction procedures. Bronze back Babbitt bearings & bronze bushings are produced in standard and custom sizes. Aluminum bearings & bushings are manufactured in both standard and custom sizes. All of these products are produced in the Company’s own foundry of high quality centrifugally cast aluminum and bronze in a wide range of diameters and lengths. The Company’s in-house lab assures constant quality and compliance with material specifications. The following is a product and service offering: - Field Service - Crankshafts (Manufacture, Inspection, Straightening, Polishing, Chrome Plating, Heat Treating) - Bearings (Aluminum, Centrifugally Cast, Bronze Centrifugally cast, Bronze Backed Babbitt lined, Steel Backed Babbitt Inspection, Aluminum Inspection - Connecting Rods (Connecting Rod Manufacturer, Reconditioned Boring, Bushing, Straightening) - Machine Shop (General machine Work, Heavy machine Work, CNC Mill & Lathe Work) - Non-Destructive Testing (Magnetic Particle Inspection, Ultrasonic Inspection, Liquid Penetrant Inspection, Portable Hardness, Crack Depth Analysis, Chrome Thickness Testing - Laboratory Services (Chemical Analysis, Ultrasonic Inspection, Tensile & Compression Testing)