Canadian plastic pipe maker Ipex completes acquisition of Silver-Line Plastics
The goal of the acquisition, which was first announced in August, is to allow Ipex to increase its market position in the U.S.
Canada-based thermoplastic piping systems manufacturer Ipex has completed its stock purchase of Silver-Line Plastics.
Silver-Line Plastics is a U.S. manufacturer of plastic pipe products with production facilities in North Carolina, Oklahoma, and Florida.
The goal of the acquisition, which was first announced in August, is to allow Ipex to increase its market position in the U.S. with an expanded product portfolio serving a broader client base.
The financial terms of the deal have not been disclosed.
“Over the next few months, the Ipex team will be working closely with the Silver-Line organization to ensure we capture the many exciting opportunities we have identified between our two companies,” Ipex CEO Alex Mestres said in a statement. “We are quite thrilled as this transaction will solidify our continued growth in the U.S. and will deliver significant value to our customers.”
Ipex is part of Aliaxis, a manufacturer and distributor of plastic piping systems headquartered in Belgium.
“We are very excited to officially welcome the Silver-Line employees to our family,” says Aliaxis CEO Laurent Lenoir. “Combining the forces of our North American IPEX team and Silver-Line will allow us to reinforce our value proposition.”