Wynnchurch, Comvest Partners sell U.S. Pipe

Business Wire

ROSEMONT - Wynnchurch Capital and Comvest Partners announced the sale of USP Holdings Inc. to Forterra Building Products, a building products company based in Irving, Texas.

Terms of the transaction were not announced.

Headquartered in Birmingham, Alabama, U.S. Pipe is a 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 position with a comprehensive product portfolio supported by superior quality, capabilities, innovation and service.

U.S. 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 U.S.," said U.S. 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 organization."

Wynnchurch and Comvest acquired U.S. Pipe through a divestiture from Mueller Water Products, Inc. in 2012. Since that time, the company has achieved significant growth both organically and through five acquisitions.

Moelis & Company acted as exclusive financial adviser and Foley & Lardner LLP acted as legal adviser to U.S. Pipe in connection with the transaction.