Assets of Ontario extruder Uponor bought by U.S. investment firm Wynnchurch Capital
The assets of polyethylene pipe producer Uponor Infra Ltd. have been acquired by Wynnchurch Capital LLC for $62.5 million and renamed as Infra Pipe Solutions Ltd.
The assets of polyethylene pipe producer Uponor Infra Ltd., which is headquartered in Mississauga, Ont., have been acquired by U.S.-based investment firm Wynnchurch Capital LLC for $62.5 million and renamed as Infra Pipe Solutions Ltd. (IPS).
The deal includes Uponor’s manufacturing plants in Mississauga; Huntsville, Ont.; and Saskatoon, Sask.
IPS will manufacture large diameter HDPE pipe for use in water infrastructure, mining, industrial processes, oil and gas distribution, and other applications.
The IPS deal marks Wynnchurch’s eleventh platform investment in Canada and the second Canadian investment in 2018.
Sandeep Dhillon, who served as president of Uponor Infra Ltd., is now IPS’s CEO.
“We are excited to partner with Sandeep Dhillon, the management team, and all of the employees of the company to continue the company’s track record of superior safety, quality, and customer service,” said Chris O’Brien, managing partner at Chicago-based Wynnchurch. “IPS has an exceptionally bright future and we look forward to supporting the company’s plans for growth.”
“With the opportunities we have before us, this is a very exciting time for the company,” Dhillon said. “Wynnchurch has the resources and expertise to take our company into a new phase of expansion as we continue to help our customers grow.”