INDUSTRY NEWS
EJ Acquires Syracuse Castings Infrastructure access solutions
provider EJ, East Jordan, Mich., announced it has acquired Syracuse Castings Sales Corp., Cicero, N.Y., and Syracuse Castings West Corp., Tooele, Utah. EJ, composed of municipal castings maker East Jordan Iron Works and its affiliates, has acquired select assets of both Syracuse companies, which design and manufacture fabricated ac- cess products for the construction and utility industries. Te acquired compa- nies sell municipal castings in central
New York state and Utah, as well as fabricated steel products in New York, New Jersey, Connecticut, Pennsylva- nia and Utah. Teir aluminum hatch product line is sold throughout the U.S. and Canada. “Tis acquisition creates opportu-
nity to provide customers with more fabricated products using current EJ channels of sales and distribution,” said Tomas Teske, EJ vice president and general manager. “We also believe we’ll be able to serve many current Syracuse customers.”
EJ and the Syracuse companies
have a history of mutual supply. In the past, Syracuse has provided EJ with products for resale. EJ has been a major supplier to Syracuse for markets in New York and Utah. EJ’s sales offices, manufacturing
facilities and R&D centers are on five continents, with product distribu- tion in more than 140 countries. As a result of this acquisition, additional custom steel and aluminum fabricated products will become available as part of the EJ product line.
Mueller Water Products to Divest U.S. Pipe and Foundry Mueller Water Products Inc.,
Atlanta, has signed an agreement to sell U.S. Pipe and Foundry Co. LLC, Birmingham, Ala., to a private equity investment team. “Te divestiture of U.S. Pipe enables
us to focus on our higher-margin busi- nesses and newer technology initiatives,” said Gregory Hyland, chairman, presi- dent and chief executive officer of Muel- ler Water Products. “Te ductile iron pipe business has been volatile, which has negatively impacted our financial performance and, we believe, masked the true value of our overall business.” U.S. Pipe and Foundry, which pro- duces ductile iron pipe in the centrifugal casting process, will be sold along with Fast Fabricators LLC (together “U.S. Pipe”) to Wynnchurch Capital Ltd., Chicago, and the Comvest Group, West Palm Beach, Fla. Under the terms of the agreement, an affiliate of Wynnchurch will acquire 100% of the equity interests in U.S. Pipe for $89.8 million in cash, subject to post-closing adjustments and the agreement to reimburse Mueller Water Products for certain liabilities, currently estimated at $10.2 million. Mueller Water Products expects to use the proceeds to pay down debt and for general corporate purposes. Te divesti- ture is expected to close by June 30. “U.S. Pipe is a market leader in its industry and has a well-deserved reputation for quality, service and innovation,” said Terry Teodore, a
U.S. Pipe’s Marvel City Mini Mill was the first new ductile iron casting plant built in the U.S. in 50 years when it was completed in 2008.
Partner with Wynnchurch. “We are excited to have this opportunity to invest in U.S. Pipe and partner with... the U.S. Pipe management team to implement a growth strategy that will continue this tradition.” Mueller Water Products manufac-
tures and markets products and ser- vices used in the transmission, distri- bution and measurement of drinking water and in water treatment facilities. Te company operates primarily through three segments: Mueller Co., U.S. Pipe and Anvil.
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