Forterra Building Products Acquires U.S. Pipe
Expands Forterra's Portfolio of Site Infrastructure and Water Management Products and Solutions
Adds Market Leadership in Ductile Iron Pipe and Related Products
Apr 15, 2016, 02:08 ET
IRVING, Texas, April 15, 2016 /PRNewswire/ -- Forterra Building Products ("Forterra"), a leading North American provider of site infrastructure and water management products and solutions and a multinational manufacturer of concrete and clay building products, today announced that it has acquired U.S. Pipe. U.S. Pipe is North America's leading provider of ductile iron pipe products for water distribution and water management applications in North America and a leader in fittings, joint restraints and other related products. Terms of the transaction were not disclosed.
With 20 manufacturing and fabrication facilities throughout the United States and Mexico and the leading brand among distributors, contractors and engineers, U.S. Pipe adds a valuable new growth platform and expanded capabilities to Forterra. U.S. Pipe's complementary portfolio of products strategically augments Forterra's existing suite of concrete and steel pressure pipe solutions. Combined, Forterra and U.S. Pipe will serve a broad customer base across the residential, commercial and infrastructure landscape with diameters of pipe ranging from 3" up to 144" and a complete solution set with which to serve customer needs from the first mile to the last mile of water transmission and distribution networks.
"The addition of U.S. Pipe is the next step in Forterra's strategic growth plan and builds on our successful track record of partnering with businesses that have great people and strong market positions," said Jeff Bradley, CEO of Forterra Building Products. "The combination of U.S. Pipe and Forterra enhances our position in attractive and growing end markets, creates the leading North American water transmission and infrastructure business, and brings meaningful benefits for our customers. We expect to further invest in U.S. Pipe in order to extend and enhance its strong record of profitable growth, both through additional value-creating acquisitions and capital investment. We are excited to work with U.S. Pipe's strong team to ensure a seamless transition for all constituencies."
"U.S. Pipe has provided dependable and economical solutions and service to its customers for over a century, and we look forward to continuing that tradition as part of the Forterra family. This strategic business combination clearly positions our combined enterprise for enhanced growth and success and provides expanded opportunities and benefits to our customers and employees," said Paul Ciolino, CEO of U.S. Pipe.
U.S. Pipe will operate as a wholly owned subsidiary of Forterra. U.S. Pipe will maintain its name and headquarters in Birmingham, Alabama in order to continue to build upon the strength of its brand and reputation established more than 100 years ago.
Forterra Building Products is a leading North American provider of site infrastructure and water management products and solutions and a multinational manufacturer of concrete and clay building products, comprised of Forterra Pipe & Precast, Forterra Pressure Pipe, Forterra Structural & Specialty Products and Forterra Brick. Based in Irving, Texas, Forterra employs more than 5,400 people and operates more than 125 facilities with products available throughout the U.S., Eastern Canada and the United Kingdom. To learn more about Forterra's sustainability efforts and quality products, services, and building technology, visit ForterraBP.com.
About U.S. Pipe
U.S. Pipe, based in Birmingham, Alabama, is a leading manufacturer of ductile iron pipe products, fittings and joint restraints used in drinking water and wastewater systems. U.S. Pipe operates 20 manufacturing and fabrication facilities throughout the United States and Mexico. U.S. Pipe has a comprehensive product portfolio supported by strong brand recognition among customers through product innovation and a reputation for quality and service. For more information, please visit: www.uspipe.com.
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Forterra Building Products
SOURCE Forterra Building Products
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