Daily News: November 22, 2013

Wynnchurch Capital, Comvest Partners Receive TMA Award

Wynnchurch Capital and Comvest Partners, leading middle-market, private equity investment firms, have been honored by the Chicago/Midwest Chapter of the Turnaround Management Association for their work with United States Pipe and Foundry Company and Fast Fabricators.

TMA honors excellence through its annual awards program. Christopher O’Brien, managing director at Wynnchurch, stated, “We are honored to receive the award for Large Turnaround of the Year and to be recognized by our peers for our efforts. In addition, we are proud of the exceptional work Paul Ciolino, his management team and all of the employees at U.S. Pipe have done to improve this critical supplier of water infrastructure products.”

John Caple, managing director at Comvest, stated, “We very much appreciate this recognition by the TMA. It is a tribute to the efforts and leadership of the team and the diligent execution of our investment thesis. U.S. Pipe is a market leader in the water industry and we are proud to have helped rebuild this important brand and business.” Terry Theodore, partner at Wynnchurch, added, “Partnering with strong management teams and focusing on operational improvements are critical cornerstones to Wynnchurch’s disciplined investment approach that enables us to bring value to distressed assets. We are obviously very pleased with the performance of U.S. Pipe and more importantly are excited about what we have left to accomplish.”

Based in Birmingham, AL, 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.