M&A Deal Summary

Forterra Acquires United States Pipe and Foundry

On April 15, 2016, Forterra acquired building materials company United States Pipe and Foundry from Wynnchurch Capital and Comvest Partners

Acquisition Highlights
  • This is Forterra’s 3rd transaction in the Building Materials sector.
  • This is Forterra’s 3rd transaction in the United States.
  • This is Forterra’s 1st transaction in Alabama.

M&A Deal Summary

Date 2016-04-15
Target United States Pipe and Foundry
Sector Building Materials
Buyer(s) Forterra
Sellers(s) Wynnchurch Capital
Comvest Partners
Deal Type Add-on Acquisition

Target

United States Pipe and Foundry

Birmingham, Alabama, United States
United States Pipe and Foundry Co., LLC is a manufacturer of ductile iron pipe products, fittings and joint restraints used in drinking water and wastewater systems. U.S. Pipe operates 20 manufacturing and fabrication facilities throughout the United States and Mexico. U.S. Pipe has a comprehensive product portfolio supported by strong brand recognition among customers through product innovation and a reputation for quality and service.

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Buyer(S) 1

Buyer

Forterra

Irving, Texas, United States

Category Company
Founded 1899
Sector Building Materials
Employees4,578
Revenue 1.6B USD (2020)
DESCRIPTION

Forterra is a manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage, and stormwater systems. Forterra was founded in 1899 and is based in Irving, Texas.


DEAL STATS #
Overall 3 of 9
Sector (Building Materials) 3 of 7
Type (Add-on Acquisition) 3 of 8
State (Alabama) 1 of 1
Country (United States) 3 of 8
Year (2016) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-01 Sherman-Dixie Concrete Industries

Nashville, Tennessee, United States

Sherman-Dixie Concrete Industries, Inc. is a producer of precast concrete structures operating eight facilities in Tennessee, Kentucky, Alabama and Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-04 Modular Wetland Systems

Oceanside, California, United States

Modular Wetland Systems, Inc. is a provider of stormwater products and solutions for civil engineers, general contractors, developers, and landscape architects.

Buy -

Seller(S) 2

SELLER

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit $50 to $750 million of equity per platform. Sectors of interest include manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.


DEAL STATS #
Overall 13 of 32
Sector (Building Materials) 1 of 3
Type (Add-on Acquisition) 4 of 12
State (Alabama) 1 of 1
Country (United States) 11 of 27
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-17 Texas Hydraulics

Temple, Texas, United States

Texas Hydraulics is a manufacturer of highly engineered, custom-designed hydraulic cylinders, swivels and related components for mobile equipment applications. The Company provides front-end design solutions for the most challenging hydraulic cylinder, swivel, and related applications. Texas Hydraulics uses its technical expertise related to valve integration, position sensing technology, large bore and long stroke cylinder manufacturing to provide a differentiated value proposition to its customers. Texas Hydraulics was founded in 1968 and is based in Temple, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 JAC Products

Pontiac, Michigan, United States

JAC Products is a global designer and manufacturer of original equipment roof racks systems, with expanded product offerings in cargo management systems, running boards and steps rails. The company supplies OEM manufacturers worldwide with engineering, sales, manufacturing, and partnership locations in North America, Europe, China, Japan and South America. JAC Products was founded in 1967 and is based in Pontiac, Michigan.

Sell -
SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 23 of 40
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 12 of 22
State (Alabama) 1 of 1
Country (United States) 23 of 40
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-21 Karmaloop

Boston, Massachusetts, United States

Karmaloop, Inc. is an eCommerce business that sells urban fashion and streetwear, including apparel, shoes and accessories.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-06 Convey

Fort Lauderdale, Florida, United States

Convey is a specialized healthcare technology and business process outsourcing firm that is committed to providing clients with healthcare-specific, compliant member support solutions utilizing technology, engagement, and analytics. Convey was founded in 2003 and is based in Fort Lauderdale, Florida.

Sell -