NEW YORK, NY, April 11, 2012 – The Industrial Investment Banking Group of Morgan Joseph TriArtisan LLC acted as financial advisor to Wynnchurch Capital ("Wynnchurch"), which, along with the Comvest Group ("Comvest"), formed a portfolio company, USP Holdings Inc., that has acquired substantially all of the assets of United States Pipe and Foundry Company, LLC and Fast Fabricators, LLC (together "U.S. Pipe" or the "Company"). Wynnchurch and Comvest are leading middle-market private equity firms.
Based in Birmingham, Alabama, U.S. Pipe is a leading manufacturer of a broad line of ductile iron pipe products, fittings and joint restraints used in drinking water and wastewater systems. Prior to the acquisition, U.S. Pipe was a subsidiary of Mueller Water Products, Inc. (NYSE:MWA).
Terry Theodore, a Partner with Wynnchurch, said, “U.S.Pipe is a market leader in its industry and has a well-deserved reputation for quality, service and innovation. We look forward to partnering with CEO Paul Ciolino and the U.S. Pipe management team in continuing with this strong tradition.” Chris O’Brien, a Managing Director with Wynnchurch added, “U.S. Pipe is a critical supplier to the water infrastructure market which is in great need of investment and repair. We look forward to supporting U.S. Pipe as it continues to provide world-class service to key distributors, builders and municipalities in this important market.”
John Caple, a Managing Director with Comvest, said, “We are excited about the opportunities for U.S. Pipe, and we believe that Paul and his team are well positioned to continue the Company’s tradition of excellent service.”
Christopher Chase, Managing Director in Morgan Joseph TriArtisan’s Industrial Investment Banking Group said, “Morgan Joseph TriArtisan worked closely with Wynnchurch Capital to identify this opportunity and to bring this transaction to a successful conclusion. We think Wynnchurch, Comvest and U.S. Pipe are a great team.”
The Morgan Joseph TriArtisan team for this transaction also included Managing Director Capital Markets Steven Fischer and Jamie Engelhardt.
About Morgan Joseph TriArtisan LLC
Morgan Joseph TriArtisan LLC (www.mjta.com) is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing. The firm’s services include mergers, acquisitions and restructuring advice, in addition to private placements and public offerings of equity and debt.
About Wynnchurch Capital, Ltd.
Wynnchurch Capital, Ltd., headquartered in the Chicago suburb of Rosemont, Illinois with offices in Dallas, Detroit, and Toronto and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. More information about Wynnchurch Capital can be found at: www.wynnchurch.com.
The Comvest Group is a leading private investment firm focused on providing equity and debt capital to lower-middle market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 2000, Comvest has invested more than $1.4 billion of capital in over 100 public and private companies. More information about Comvest can be found at: www.comvest.com.