Comprehensive M&A data with integrated detailed company information
IPEX to form a deal with Silver-Line
Posted on Friday, 23 August 2019 13:47
IPEX is buying US-based plastic pipe products manufacturer Silver-Line Plastics for an unannounced sum.
Subject to regulatory approvals, the deal is due to close within the upcoming weeks.
Established in 1962, Silver-Line claims to be the leading manufacturer of plastic pipe products in the US, with facilities spanning Asheville, North Carolina, Lawton, Oklahoma and Florida.
Its offerings include polyvinyl chloride used for plumbing, well casing and irrigation, as well as polyethylene, designed for water distribution lines and jet and submersible pumps.
Alex Mestres, chief executive of IPEX, said: “Like IPEX, Silver-Line has a strong reputation in the marketplace for being customer focused and supplying high quality products. This acquisition will significantly contribute to our growth objectives in the US.”
Furthermore, the deal is expected to strengthen the buyer’s market position in North America, while expanding its portfolio and broadening its client base.
Canada-based IPEX designs and makes integrated piping products for the plumbing, industrial, electrical and municipal sectors.
The group is a subsidiary of Aliaxis, which specialises in plastic piping systems for building, infrastructure, industrial and agriculture applications.
Headquartered in Brussels, the vendor has around 16,000 employees and operates in over 45 countries worldwide.
Aliaxis has undergone a series of divestments this year, most recently agreeing to selling off its ceramics business to Germany’s Kyocera Fineceramics for an undisclosed sum in May.
It also sold Rheinhütte Pumpen to ITT in February for EUR 81.00 million, stating at the time that it wanted to focus on non-core activities.
There have been 416 deals targeting plastic product manufacturers announced worldwide since the beginning of 2019, according to Zephyr, the M&A database published by Bureau van Dijk.
In the largest of these, Berry Global International Holdings bought UK-based RPC Group for GBP 3.34 billion.
© Zephus Ltd