Daily News: April 12, 2012

Morgan Joseph Advises Wynnchurch in U.S. Pipe Acquisition

The Industrial Investment Banking Group of Morgan Joseph TriArtisan LLC acted as financial advisor to Wynnchurch Capital, which, along with the Comvest Group, formed a portfolio company, USP Holdings Inc., which has acquired substantially all of the assets of United States Pipe and Foundry Company, LLC and Fast Fabricators, LLC.

Based in Birmingham, AL, U.S. Pipe is a 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.

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.

Morgan Joseph TriArtisan LLC is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing.

Wynnchurch Capital, Ltd., is a middle-market private equity investment firm.

The Comvest Group is a private investment firm focused on providing equity and debt capital to lower-middle market companies.

Previously on abfjournal.com:

WFCF Provides Financing for USP’s U.S. Pipe Acquisition, Monday, April 09, 2012