Transaction Expands Global Fire Protection Portfolio
NEW YORK – April 2, 2018 – One Equity Partners (“OEP“), a leading middle market private equity firm, today announced that its portfolio company Anvil International (“Anvil” or “the Company”), a leading North American manufacturer and supplier of products that connect, hang and support piping systems, has acquired the assets of FlexHead Industries, Inc. and SprinkFLEX LLC from Atkore International Group Inc. (NYSE: ATKR). Financial terms of the transaction were not disclosed.
Headquartered in Holliston, Mass., FlexHead Industries and SprinkFLEX manufacture adjustable steel hoses, brackets and fittings for fire safety systems used in commercial buildings, hospitals, schools, government buildings and other facilities. Both companies will retain their existing brand names under Anvil’s ownership.
“FlexHead Industries and SprinkFLEX are highly complementary to Anvil,” said Andrew Oliver, Managing Director, OEP. “The Company’s acquisition reflects OEP’s focus on partnering with management teams to grow through carve-out transactions that drive market expansion.”
“FlexHead Industries and SprinkFLEX enable us to serve our customers with a broader range of high quality, cost-effective solutions that meet their needs in major grid and drop ceiling spaces, while reducing installation, inspection and maintenance costs,“ said Tom Fish, CEO of Anvil International.
“We are excited to add two exceptional brands to our family of leading edge piping and fire protection support products. FlexHead and SprinkFLEX are an excellent strategic fit for Anvil,” added Dean Taylor, Vice President of Anvil International.
OEP acquired a majority interest in Anvil in January of last year. Anvil subsequently acquired AFCON, a leading provider of patented fire protection pipe hangers and seismic bracing products; and, the Grinnell Grooved Mechanical Product suite from Johnson Controls.
About One Equity Partners
OEP 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. OEP 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 completed more than 150 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and 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 contact Anvil’s corporate offices at 603-418-2800, 2 Holland Way, Exeter, NH 03833, or visit www.anvilintl.com
Press contact for One Equity Partners: