Wynnchurch Capital and Comvest Partners announced have sold USP Holdings Inc to Forterra Building Products, a building products company based in Irving, Texas.
Headquartered in Birmingham, Alabama, US Pipe is a leading manufacturer of a broad line of ductile iron pipe products, fittings and joint restraints for water distribution and water management applications. Founded in 1899, the Company has established its market leading position with a comprehensive product portfolio supported by superior quality, capabilities, innovation and service. US Pipe serves a diverse group of customers, including distributors, contractors and municipalities.
“Wynnchurch and Comvest have been valued partners as we have continued to build on our position as the leading provider of ductile iron pipe products in the US,” says US Pipe CEO Paul Ciolino. “Each firm has significant investment and operational expertise, which helped management grow the business, drive continuous improvement and execute on our strategy. In addition, Wynnchurch and Comvest were critical in leading and executing several strategic acquisitions furthering our efforts in becoming a full-service, world class organisation.”
Wynnchurch and Comvest acquired US Pipe through a divestiture from Mueller Water Products, Inc. (NYSE: MWA) in April of 2012. Since that time, the Company has achieved significant growth both organically and through five acquisitions.
Moelis & Company acted as exclusive financial advisor and Foley & Lardner LLP acted as legal advisor to US Pipe in connection with the transaction.
