Contech Construction Products Inc., a West Chester, Ohio-based portfolio company of Apax Partners, has bought the Como, Miss.-based corrugated metal pipe assets of Hanson Pipe & Precast. No financial terms were disclosed.
CONTECH Construction Products Inc. announced today that it has purchased all corrugated metal pipe assets, including machinery, equipment and inventory, from Hanson Pipe & Precast, LLC located at its facility in Como, Mississippi.
Hanson’s facility primarily served markets in the states of Alabama, Arkansas, Kentucky, Louisiana, Mississippi and Tennessee with corrugated metal pipe products. With Hanson’s decision to exit from the manufacture of corrugated metal pipe, customers in those markets will now be served from nearby CONTECH facilities and by CONTECH’s sales team. CONTECH has also taken over Hanson’s corrugated metal pipe outstanding backlog and existing supply contracts.
“This is another key move which solidifies our commitment to the drainage industry. We are also pleased to make available to Hanson, for its distribution, CONTECH’s full line of corrugated metal pipe products,” said Ron Keating, President and CEO of CONTECH.