For the second time in six months, Swiss industrial firm Georg Fischer AG has purchased a U.S.-based plastic pipe maker.
This time, Fischer has bought Independent Pipe Products Inc. of Dallas. In a May 22 news release, Fischer officials in Schaffhausen described IPP as the leading U.S. provider of polyethylene large-diameter pipe and fittings.
No deal price was disclosed. IPP operates plants in Dallas and in Abbeville, S.C. The 16-year-old firm employs 94 and has annual sales of more than $50 million.
IPP originally focused its business on large-diameter PE fittings, but expanded in 2009 to include large PE pipes for the water-distribution market.
In December, Fischer bought PVC pipe maker Harvel Plastics Inc. of Easton, Pa., in a deal valued at $50 million.