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Private equity firm acquires pipe manufacturer United Poly Systems

Private equity firm acquires pipe manufacturer United Poly Systems

News 13.06.2019
ups

Industrial Opportunity Partners ("IOP"), an operations-focused private equity firm based in Evanston, Ill., today announced that it has acquired United Poly Systems LLC ("UPS" or the "Company"), in partnership with the current management team. Terms of the transaction were not disclosed.

UPS is a manufacturer of made-to-order high density polyethylene (HDPE) pipe for use in multiple end markets and applications. The Company manufactures both HDPE pressure pipe for fluid transmission and HDPE duct / conduit pipe for cable and electrical transmission. The Company is headquartered in Springfield, Mo., with an additional manufacturing facility in Albuquerque, N.M.

IOP is partnering in its investment with the Company's founders, Jim Massengale Jr. and Bert Bridges, and the Company's management team, all of whom have ownership interests and will remain in their current leadership roles. In addition, Norm Young, an IOP Operating Principal, will assume the position of Chairman. Mr. Young is a member of IOP's Board of Operating Principals which is comprised of experienced executives who provide leadership to the businesses in which IOP invests.

Kyle Hood, Director of IOP, said, "We are excited to partner with the UPS team. We believe that UPS has an excellent reputation with its customers and strong end-market demand drivers."

Mr. Young added, "We look forward to partnering with the UPS management team in continuing to serve the Company's customers with a focus on high levels of service and expanding UPS' production capacity and product offering."

Scott Franklin, UPS CEO, commented, "The UPS management team and I are looking forward to our partnership with IOP. We believe IOP brings valuable operational experience which will assist us in enhancing all aspects of our business to support growth and better serve our customers."

UPS represents the third platform investment for IOP's third fund, Industrial Opportunity Partners III, L.P .

About United Poly Systems

Founded in 2011, UPS is a manufacturer of made-to-order HDPE pressure and duct / conduit pipe for use in multiple end markets and applications. The Company is headquartered in Springfield, Mo., with an additional manufacturing facility in Albuquerque, N.M. 

About Industrial Opportunity Partners

IOP, an Evanston is an Ill.-based private equity firm with $910 million of committed capital since inception and revenue between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.

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