NEW YORK, Jan. 9, 2017 /PRNewswire/ -- One Equity Partners,
a middle market private equity firm, today announced that it has
signed a definitive agreement for the acquisition of Anvil
International ("Anvil"), a leading North American manufacturer of
high quality pipe fittings and system components, from Mueller
Water Products (NYSE: MWA).
Headquartered in Exeter, N.H.,
Anvil manufactures a comprehensive range of pipe couplings, steel
fittings, hangers, channel connections, strut fittings and
customized components used in plumbing, mechanical, HVAC,
industrial, fire protection, commercial, mining, and oil field
infrastructure, and offers related onsite consulting services. The
company, which has been operating for more than 150 years, sells
Anvil, Beck, Gruvlok, Merit, Catawissa and other branded metal
piping products through a network of more than 1,000 distributors
in over 4,000 locations in North
America.
"Anvil has been the industry leading manufacturer of pipe
fittings in North America, and we
look forward to building on the business' market position and
strong manufacturing capabilities," said JB Cherry, Senior Managing
Director at One Equity Partners. "This transaction is reflective of
our strategy in identifying attractive investment opportunities
through carve-outs where we can accelerate further growth with
strategic acquisitions that build significant scale."
Anvil's wide range of grooved, cast and forged pipe fittings,
struts, valves, and other metal connecting parts are produced at
seven manufacturing plants located in Pennsylvania, Texas, Rhode
Island, Tennessee and
Alabama. Along with its extensive
distributor network, the company also operates six distribution
centers and sources its products globally.
"Anvil will benefit from One Equity Partners' significant
industrial specialty distribution and sector expertise," said
Patrick M. Donovan, President and
CEO of Anvil International. "We are excited to partner with One
Equity Partners as we take Anvil through the next phase of growth
to build upon our market leading position and serve our
long-standing customers in the U.S. and globally."
Andrew Oliver, Managing Director
at One Equity Partners, added: "The North American pipe fittings
and components systems industry is a large and highly fragmented
market with attractive characteristics. Anvil will serve as an
excellent platform to apply our strategy using transformative
combinations to build market-leading companies."
About One Equity Partners
One Equity Partners is a
middle-market private equity firm focused on the industrial,
healthcare, and technology sectors in North America and Europe. The firm builds market-leading
companies by identifying and executing transformative business
combinations. One Equity is a trusted partner with a differentiated
investment process, a broad and senior team, and an extensive track
record generating long-term value for its partners. Since 2001, the
firm has invested in more than 140 transactions worldwide. One
Equity, founded in 2001, spun out of JP Morgan in 2015. The firm
has offices in New York and
Chicago, and an advisory office in
Frankfurt. For more information,
please visit www.oneequity.com.
About Anvil International
Anvil International is one
of the largest and most complete manufacturers of pipe
fittings, pipe hangers and piping support systems in the world. For
more than 150 years, Anvil has provided the highest–quality pipe
products and services with integrity and dedication to superior
customer service. The company offers expertise and product
solutions for a wide range of applications, from plumbing and
mechanical, HVAC, industrial and fire protection,
to mining and oil and gas. Anvil offers products and
services worldwide. Its manufacturing facilities are
located in Pennsylvania (ISO
9001:2008 certified), Tennessee
(ISO 9001:2008 certified), Texas
(ISO 9001:2008 certified) and Rhode
Island (ISO 9001:2008 certified). Anvil is a subsidiary of
Mueller Water Products Inc. (NYSE: MWA). For more information,
please contact Anvil's corporate offices at 603–418–2800, 2 Holland
Way, Exeter, NH 03038, or visit
anvilintl.com.
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SOURCE One Equity Partners