M&A Deal Summary

Merfish Pipe & Supply Acquires United Pipe & Steel

On February 1, 2019, Merfish Pipe & Supply acquired distribution company United Pipe & Steel from MPE Partners, Apogem Capital and Northwestern Mutual Capital

Acquisition Highlights
  • This is Merfish Pipe & Supply’s 2nd transaction in the Distribution sector.
  • This is Merfish Pipe & Supply’s 2nd transaction in the United States.
  • This is Merfish Pipe & Supply’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2019-02-01
Target United Pipe & Steel
Sector Distribution
Buyer(s) Merfish Pipe & Supply
Sellers(s) MPE Partners
Apogem Capital
Northwestern Mutual Capital
Deal Type Merger

Target

United Pipe & Steel

Ipswich, Massachusetts, United States
United Pipe & Steel Corp. is an independent master distributor of steel, copper and plastic pipe as well as conduit used in water/wastewater, irrigation, plumbing, electrical and infrastructure construction applications.

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Buyer(S) 1

Buyer

Merfish Pipe & Supply

Ipswich, Massachusetts, United States

Category Company
Sector Distribution
DESCRIPTION

Merfish Pipe & Supply is a master distributor of carbon steel pipes, copper tubing, plastic pipe, electrical conduit and related products that are distributed to its independent wholesale distributor customers across a variety of end markets. Merfish Pipe & Supply is based in Ipswich, Massachusetts.


DEAL STATS #
Overall 2 of 2
Sector: Distribution M&A 2 of 2
Type: Merger M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Kloeckner Metals - Master Pipe Distribution Assets

Roswell, Georgia, United States

Kloeckner Metals Corp. - Master Pipe Distribution Assets consists of carbon steel pipe, fittings and flanges serving distributors in the United States and located in Lakeland, Florida, Charlotte, NC, Houston, Texas, Stockton, CA, and Fontana, CA.

Buy -

Seller(S) 3

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 51 of 59
Sector: Distribution M&A 2 of 2
Type: Merger M&A Deals 1 of 2
State: Massachusetts M&A 5 of 7
Country: United States M&A 49 of 57
Year: 2019 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 Polytek

Easton, Pennsylvania, United States

Polytek is a manufacturer of liquid mold rubbers and casting plastics. Polytek’s proprietary specialty polymers are used by customers to create flexible molds to reproduce highly-detailed, complex objects for a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping. Polytek was founded in 1984 and is based in Easton, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Garmat USA

Englewood, Colorado, United States

Garmat USA is a designer and manufacturer of highly engineered paint booths, finishing solutions, and related accessories for the automotive collision repair and industrial end markets. Garmat USA was founded in 1988 and is based in Englewood, Colorado.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 34 of 52
Sector: Distribution M&A 2 of 2
Type: Merger M&A Deals 2 of 2
State: Massachusetts M&A 2 of 2
Country: United States M&A 34 of 52
Year: 2019 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Fatz Cafe

Taylors, South Carolina, United States

Cafe Enterprises operates 43 company-owned full-service casual dining restaurants in North Carolina, South Carolina, Tennessee, Georgia and Virginia. Fatz Cafe is renowned for creating exceptional value for its guests with great food, friendly and efficient service, and a welcoming atmosphere, “Where Everyone’s a Regular”. Cafe Enterprises was founded in 1988 and is based in Taylors, South Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 Actagro

Biola, California, United States

Actagro LLC is a developer, manufacturer, and marketer of environmentally sustainable soil and plant health products and technologies. Actagro’s premier commercial portfolio includes approximately 30 specialty products that have a strong track-record of increasing crop productivity and financial returns for growers.

Sell $340M
SELLER

Northwestern Mutual Capital

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor Investor


Category Corporate Investor
PE ASSETS 69.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Northwestern Mutual Capital is a wholly-owned subsidiary of The Northwestern Mutual Life Insurance Company, which is also its largest client. Northwestern Mutual Capital manages private assets for its clients across a portfolio of investment grade private placements, mezzanine and equity co-investments in private equity transactions and private equity funds. Northwestern Mutual Capital is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 1 of 2
Sector: Distribution M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-27 Avalign Technologies

Rosemont, Illinois, United States

Avalign Technologies is a manufacturer of implants and instruments, specialty instrumentation, cutting tools, and cases and trays to the orthopedic medical device and specialty surgical markets. Avalign Technologies is comprised of two divisions, avalign orthopedics, and avalign Surgical. Avalign Orthopedics manufactures premium implants and instruments for orthopedic, spine, and trauma applications. Avalign Technologies was founded in 2005 and is based in Rosemont, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 Valicor Environmental Services

Monroe, Ohio, United States

Valicor Environmental Services is a provider of non-hazardous wastewater treatment services in North America. Leveraging its extensive fleet of tankers and a network of strategically located centralized wastewater treatment (“CWT”) facilities, the Company transports and processes diverse wastewater streams that result from the manufacture of industrial and consumer goods. Valicor helps customers dispose of oily water, leachate, soaps, line flush waste, and similar waste streams, and it also provides a diverse set of landfill solidification and product destruction services. Valicor Environmental Services was established in 1982 and is based in Monroe, Ohio.

Sell -