Wynnchurch Capital and Comvest Partners Sell U.S. Pipe

ROSEMONT, Ill.--(BUSINESS WIRE)-- Wynnchurch Capital (“Wynnchurch”) and Comvest Partners (“Comvest”) announced the sale of USP Holdings Inc. (“U.S. Pipe” or the “Company”) to Forterra Building Products, a building products company based in Irving, Texas.

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Headquartered in Birmingham, Alabama, U.S. 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. 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. (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 U.S. Pipe in connection with the transaction.

About U.S. Pipe:

U.S. Pipe is the largest provider of ductile iron pipe products for water distribution and water management applications and a leader in fittings, joint restraints, and other related products. The Company’s products, sold under the well-regarded U.S. Pipe brand, are primarily used in drinking and wastewater systems within the U.S. and are procured by waterworks distributors, residential and commercial construction contractors, utilities, and government municipalities. For more information, please visit: www.uspipe.com.

About Wynnchurch Capital:

Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California, Michigan, Ohio and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.3 billion of capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.

About Comvest Partners:

Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, the firm has invested $2.1 billion in over 130 companies. Today, Comvest’s funds have $2.5 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit: www.comvest.com

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Wynnchurch Capital
Terry Theodore, Partner
[email protected]
248-593-3800
or
Comvest Partners
Carlos Soto, Senior Vice President
[email protected]
561-727-2000

Source: Wynnchurch Capital

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