Private equity firm Nautic Partners buys pipe distributor Harrington Industrial Plastics
Nautic also acquired film and sheet maker and thermoformer Spartech LLC in October 2019.
U.S.-based private equity firm Nautic Partners LLC is adding a second plastics company to its portfolio with the acquisition of pipe distribution company Harrington Industrial Plastics LLC.
In a March 3 press release, Nautic – which is based in Providence, R.I. – said that it had worked on the deal in partnership with Harrington management.
The financial terms of the acquisition have not been disclosed.
Founded in 1959, Harrington is headquartered in Chino, Calif., and distributes pipes, valves, filters, pumps, and tanks for a variety of end markets including water treatment/wastewater, chemicals, institutions, labs, and food and beverage production.
“Harrington has been growing at rates well above the market for several years based on our strategy of providing superior customer service, local product availability, and a level of product and application expertise that is unrivalled in the industry,” Harrington CEO Eben Lenderking said. “We look forward to working in close partnership with Nautic to cement these advantages and to continue our strong growth.”
Nautic acquired film and sheet maker and thermoformer Spartech LLC in October 2019.