Industrial Opportunity Partners divests manufacturer UPS to Atkore

UPS is a maker of high-density polyethylene pressure pipe and conduit.

  • IOP acquired UPS in June 2019
  • Atkore is a provider of electrical, safety and infrastructure solutions
  • IOP has managed about $1.5 billion of committed capital since the firm’s inception

Industrial Opportunity Partners has sold United Poly Systems Holdings Inc to Atkore Inc. Terms of the transaction were not disclosed.

IOP acquired UPS in June 2019. The divestiture of UPS represents IOP’s second investment realization from its $450 million third fund, Industrial Opportunity Partners III, L.P., and IOP’s fifth investment realization since the beginning of 2021, all to strategic acquirers.

UPS is a maker of high-density polyethylene pressure pipe and conduit for use in multiple applications and end markets including telecom, water infrastructure, renewables, and energy. The company operates manufacturing facilities in Springfield, Missouri and Albuquerque, New Mexico.

On the sale, Kyle Hood, managing director of IOP, said in a statement: “We feel that UPS will be a strategic asset for Atkore and expand their product portfolio and manufacturing capacity to meet HDPE customers’ needs. We would like to thank the management team at UPS, led by Chris Reiter, and wish them continued success in the years to come.”

Winston & Strawn LLP provided legal representation to IOP in connection with the sale transaction.

IOP, an operations-focused private equity firm in Evanston, Illinois, has managed about $1.5 billion of committed capital since inception, according to IOP.