Ipex completes stock purchase of pipe producer Silver-Line

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."

During the next few months, the Ipex team will work closely with the Silver-Line organization to follow up on the opportunities identified between the two companies, Mestres added.

Silver-Line produces a broad range of pipe products from PVC, chlorinated PVC, polyethylene and cross-linked PE for the plumbing, well casing, irrigation, utility, industrial and agricultural, gas and geothermal markets. The company's four plants are in Asheville; Lawton, Okla.; and Fort Pierce, Fla.

"The synergies realized through this acquisition will increase our manufacturing and distribution footprint and result in a new level of service with an expanded product offering to a broader U.S. customer base," Mestres said. "It will create new opportunities for all our employees."

Silver-Line has 350 employees, and all will be retained, he added.

"Our intent is to grow the business," Mestres said.

The acquired company has some market overlap with Ipex, which has been focused on the municipal, irrigation, plumbing, mechanical, electrical and telecommunication sectors. Ipex is part of Brusssels-based Aliaxis.

"We are very excited to officially welcome the Silver-Line employees to our family," Aliaxis CEO Laurent Lenoir said in a news release about the deal closing. "The acquisition of Silver-Line Plastics will allow us to further strengthen our position in North America, in line with our strategy to invest in markets where we have a leadership position. Combining the forces of our North American Ipex team and Silver-Line will allow us to reinforce our value proposition."

Aliaxis is a privately held company with about 16,100 employees at 45 sites worldwide.