Commerce-based Smith-Cooper International, which is backed by New York-based private equity firm Tailwind Capital, agreed to merge with Anvil International, a portfolio company of One Equity Partners, a private equity arm of JPMorgan Chase.
Terms of the transaction, which is expected to close by June 30, were not disclosed.
The combined Smith-Cooper and Anvil, which supply piping systems, valves and fittings, will be majority owned by Tailwind following the merger.
One Equity acquired Anvil in January 2017, and has since made several acquisitions of products serving the industrial, commercial, fire protection, energy and mining markets. The company subsequently made acquisitions of five complementary businesses, including Anvil’s purchase in April 2017 of El Monte-based AFCON, a provider of patented fire protection pipe hangers and seismic bracing products.
Upon closing of Smith-Cooper and Anvil deal, Jason Hild, chief executive officer of Smith-Cooper, will become CEO of the combined company, and Tom Fish, president and chief executive of New Hampshire-based Anvil, will serve as chairman. No changes to the footprints of either of the company’s facilities are anticipated as a result of the merger.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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