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Sale Of PolyPipe Holdings Is Complete
Dura-Line Holdings Inc., a portfolio company of Chicago-based CHS Capital, has completed the acquisition of PolyPipe Holdings Inc. from the Halifax Group. Terms of the sale were not disclosed. Dura-Line is a portfolio investment of CHS Private Equity V LP, a $1.3 billion investment fund. The Halifax Group is a private equity firm that partners with management to invest in growing entrepreneurial companies.
PolyPipe, headquartered in Gainesville, TX, is a leading independent manufacturer of polyethylene pressure pipe in the U.S. and has over 35 years of expertise in the industry. PolyPipe offers one of the broadest product lines in its industry (up to 65 inches), including both large diameter and small diameter pipe, and high-density and medium-density polyethylene resins (HDPE and MDPE, respectively). The company operates five facilities across the United States.
Halifax acquired PolyPipe in February 2005. In partnership with Halifax, the company built two new plants, expanded its product scope, added capacity, developed proprietary products and implemented state-of-the art quality control systems to become a leading independent manufacturer of PE pressure pipe. PolyPipe was the first PE pressure pipe company to become nuclear certified and is the only manufacturer capable of manufacturing pipe inscribed with a permanent bar-code for pipe traceability.
“We are extremely proud of what the PolyPipe team accomplished, which could not have been done without the tenacious leadership of PolyPipe’s executive team and insight from its world class independent directors,” stated Brent Williams, managing director at Halifax. “Under Jim Moore’s leadership, PolyPipe’s management team and employees built a true market leader with clear competitive differentiation.”
Dura-Line will integrate PolyPipe into its current U.S. regional operations. The combined company will have 12 manufacturing facilities of HDPE duct and conduit in the U.S. and 19 worldwide.
Headquartered in Knoxville, TN, Dura-Line is the global leader of HDPE conduit, duct and pressure pipe solutions for telecom, energy and infrastructure-related markets. Dura-Line serves customers in 50 countries and is the exclusive provider for many of the world’s leading telecom companies.