NEWS
Uponor sells North American Infra division to Wynnchurch
Uponor has divested the North American arm of its infrastructure business, by selling it to private equity firm Wynnchurch Capital. The new company will be called Infra Pipe Solutions (IPS). The purchase price is C$62.5 million (around €41m). The transaction will have positive impact on Uponor’s cash flow on Q3, but none on Uponor’s full-year 2018 comparable operating profit, according to the company. In 2017, the net sales of
it employed about 150 people. Uponor Infra Oy is a joint venture of Uponor and KWH, with Uponor owner- ship of 55.3%.
Luomakoski: “Our strategic focus for Uponor Infra is Europe, so this is a logical step”
Uponor Infra’s North American business were around C$120m (€80m) and
“Since the foundation of Uponor Infra, our strategic focus has been in the European business, where we have possibilities to find synergies with the Building Solutions – Europe seg- ment,” said Jyri Luomakoski, president and CEO of Uponor. “This divestment is a logical step, following the divestments of machinery company Extron Engineer-
ing and business in Thailand made in 2015.” The company has three manufacturing facilities in North America – all of them in Canada. It will be led by Sandeep Dhillon, who was previously president of Uponor Infra. “With the opportunities we have before us, this is an exciting time,” said Dhillon, who becomes CEO at IPS. “Wynnchurch has the resources and expertise to take our company into a new phase of expansion.” �
www.uponor.com �
www.wynnchurch.com
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