INDUSTRY NEWS/行業新聞
Mueller Water Products to Divest U.S. Pipe and Foundry Mueller Water Products公司将剥离U.S. Pipe and Foundry公司
Mueller Water Products Inc., Atlanta, Ga., USA, has signed an agreement to sell U.S. Pipe and Foundry Co. LLC, Birmingham, Ala., USA, to a private equity investment team. “Te divestiture of U.S. Pipe enables us to focus on our higher-margin businesses and newer technology initiatives,” said Gregory Hyland, chairman, president and chief execu- tive officer of Mueller 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 produces 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., USA. Under the terms of the agreement, an affili- ate 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 divestiture 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 Partner with Wynnchurch. “We are excited to have this opportunity to invest in U.S. Pipe and partner with Paul Cio- lino and the U.S. Pipe management team to implement a growth strategy that will con- tinue this tradition.” Mueller Water
Products manufactures and markets products and services that are used in the transmis- sion, distribution and measurement of drink- ing water and in water treatment facilities. Te company oper- ates primarily through three segments: Mueller Co., U.S. Pipe and Anvil. ■
U.S. Pipe’s Marvel City Mini Mill was the first new duc- tile iron casting plant built in the U.S. in 50 years when it was completed in 2008.
位于美国佐治亚州亚特兰大的Mueller Water Prod-
ucts公司已经签署协议将位于阿拉巴马州伯明翰市的U.S. Pipe and Foundry公司卖给一个私人股权投资团队。 该公司的主席、总裁兼CEO Gregory Hyland 说：“剥离U.S. Pipe and Foundry公司将使我们专 著于高效业务和新技术。球墨铸铁管业务一直不稳 定，这给我们的财务造成了负面影响，并掩盖了我们 整个业务的真正价值。” U.S. Pipe and Foundry公司采用离心铸造的方 法生产球墨铸铁管，将和Fast Fabricators公司一起 被卖给芝加哥的Wynnchurch Capital公司和佛罗里 达西棕榈滩市的Comvest集团公司。根据达成的协 议，Wynnchurch的一个附属公司将支付8980万美元 现金获得该公司100%的股权，条件是交易后的调整 和偿还该公司的1020万美元的债务。Mueller Water Products公司期望将受益用来偿还债务和总公司的用 途。该剥离将在6月30日前完成。
“U.S. Pipe公司是产业和市场的领导者，在质量、 服务和创新方面有良好声誉，” Wynnchurch的一个合 作伙伴Terry Theodore说：“我们非常高兴有这个机会 投资U.S. Pipe公司，并和保罗Ciolino和U.S. Pipe公司 管理团队合作实施继 续这一传统的发展战 略。”
Mueller Water
Products公司制造 和销售用于输送、配 给和检测饮用水的设 备以及水处理厂用的 产品及其相关服务。 这家公司经营主要通 过三个部门: Mueller 公司、U.S. Pipe公司 和Anvil公司。■
U.S. Pipe公司的Marvel City Mini Mill厂在2008 年完工时是50年来美 国的第一个新球墨铸铁 厂。
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FOUNDRY-PLANET.COM | MODERN CASTING | CHINA FOUNDRY ASSOCIATION Spring 2012
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