Thermoplastic pipe extruder Ipex USA LLC completed the stock purchase of Silver-Line Plastics Corp., which manufactures pipe at four U.S. sites.
The deal brings together the No. 8 and No. 34 pipe, profile and tubing extruders in North America with estimated sales of $460 million for Pineville, N.C-based Ipex and $140 million for Asheville, N.C.-based Silver-Line, according to Plastics News' latest ranking.
The acquired company is now called Silver-Line Plastics LLC and is part of the Ipex Group of Cos.
The acquisition is a strategic move to improve Ipex's market position in the U.S. with an expanded product portfolio serving a broader client base, Ipex CEO Alex Mestres told Plastics News.
"We are excited about the opportunities the acquisition will bring for a broader product offering to our current and future customers," Mestres said in an email. "We view the US market as very exciting and certainly a large growth opportunity for us."