Private equity firm Industrial Opportunity Partners (IOP) acquired Springfield, Mo.-based United Poly Systems LLC (UPS) with plans to boost pipe production capacity and build on the product mix in a partnership with the current management team.
Founded in 2011, UPS extrudes high density polyethylene pipe for a variety of end markets and applications, including pressure pipe for fluid transmission and conduit pipe for cable and electrical transmission. In addition to its headquarter site, the company has a second manufacturing facility in Albuquerque.
UPS was an attractive target because of its good reputation and the growing demand from its end markets, which includes communications, utility, municipal, industrial, and oil and gas gathering markets, IOP Director Kyle Hood said in a news release.
UPS manufactures HDPE pipe with diameters from ¾ inch to 16 inches in a variety of colors with smooth or ribbed interior for custom orders and the company recently added microducts products.
IOP brings the acquired company valuable operational experience to support growth and customer service, UPS CEO Scott Franklin said in the release.
Terms of the deal were not disclosed but noted that UPS founders Jim Massengale Jr. and Bert Bridges are partners in the investment along with the acquired company's management team, which has ownership interests and will remain in their current leadership roles.
Chicago-based Stout Investment Banking served as the exclusive sell-side adviser to United Poly Systems and David Evatz was the managing director who led the deal.
