First Strategic Add-On Comes Just Three Months after OEP’s Acquisition of Anvil
NEW YORK – APRIL 10, 2017 – One Equity Partners, a middle market private equity firm, today announced that portfolio company Anvil International (“Anvil”) has completed the acquisition of AFCON, a leading provider of patented fire protection pipe hangers and seismic bracing products. Financial terms of the private transaction were not disclosed.
Headquartered in El Monte, Calif., AFCON manufactures a complete range of fire protection products, including clamps, pipe hangers and sway brace fittings for a wide variety of pipes and copper system piping. Established in 1968, AFCON pioneered the fire hanger and pipe bracing business with innovative products designed to minimize damage to fire suppression systems during earthquakes.
“We’re pleased to be making progress on our strategic vision for Anvil so quickly,” said Andrew Oliver, Managing Director at One Equity Partners. “By completing this acquisition within the first three months of our ownership, we and the Anvil team are confident in our successful ongoing collaboration.”
One Equity Partners acquired Anvil in January 2017, making the investment out of its oversubscribed $1.65 billion Fund VI.
“AFCON’s history of innovation and producing contractor-friendly products made this a perfect fit for our company,” added Fish. “It is a superb company that will benefit from our strong regional and global distribution network.”
Anvil makes a comprehensive range of pipe couplings, steel fittings, hangers, channel connections, strut fittings and customized components that are used in plumbing, mechanical, HVAC, industrial, fire protection, commercial, mining, and energy infrastructure, as well as provides related onsite consulting services.
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 supports 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. For more information, please visit anvilintl.com.