MPE Partners Announces the Sale of United Pipe & Steel, Inc.

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March 5, 2019

Molly Kussell

Cleveland, OH and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced that United Pipe & Steel, Inc. (“UP&S” or “the Company”), a leading master distributor of carbon steel standard pipe, copper tube, PVC pipe, electrical conduit, and related products, was acquired by Merfish Pipe Holdings, LLC (“Merfish”), a portfolio company of One Equity Partners.  With 12 distribution centers across the United States, UP&S specializes in frequent, just-in-time, route-based deliveries that enable the Company to maintain a superior level of customer service across a variety of industries.  UP&S CEO Greg Leidner will assume leadership of the combined entity.  Terms of the transaction were not disclosed.

Joe Machado, Partner at MPE, said, “We are proud of the partnership we formed with the UP&S management team and applaud their outstanding commitment to operational excellence.  During MPE’s ownership, the Company expanded its management team, broadened its product offering, and opened several new, strategically located distribution centers.”

Charlie Rossetti, Principal at MPE, added, “On behalf of MPE, we would like to thank the employees of UP&S.  The Company’s success during our investment period was due to the extraordinary effort that they demonstrate each day.”

Greg Leidner, CEO of UP&S, remarked, “MPE has been a valuable partner to UP&S as we transitioned from family ownership and worked to enhance our technology platform, optimize our delivery routes, and better serve customers.  We are excited about the next chapter of growth and look forward to enhancing our capabilities in combination with Merfish.”

BB&T Capital Markets served as the Company’s transaction advisor and Mintz Levin served as legal counsel.

About United Pipe & Steel, Inc.
Founded in 1980 and headquartered in Ipswich, MA, United Pipe & Steel is a leading master distributor of carbon steel standard pipe, copper tube, PVC pipe, electrical conduit, and related products.  UPS’s industry-leading scale, product availability, and customer service establish the Company as a key link in the supply chain.

About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 – $20 million. MPE has two primary target investment areas: high-value manufacturing and industrial services. For more information, please visit www.mpepartners.com.

 Media contact:
Charlie Rossetti at crossetti@mpepartners.com

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