MOSCOW (MRC) -- In a move that has ramifications for the Canadian market, Brussels-based piping systems maker Aliaxis SA is acquiring Harco, a Lynchburg, Va.-based producer of gasketed fittings, said Canpastics.
The financial terms of the deal have not been announced. Harco will become part of Ipex Group, an Aliaxis brand and company that has corporate headquarters in Oakville, Ontario. Ipex also has manufacturing facilities and distribution centres across North America and a U.S. headquarters, Ipex USA LLC, in Pineville, N.C.
Ipex makes a range of thermoplastic piping systems for the North American market. Harco’s annual revenues were roughly USD75 million in 2021, Aliaxis officials said in a Jan. 19 news release.
“Harco is a well-established brand in municipal, irrigation and agriculture end-markets,” Aliaxis CEO Eric Olsen said. “With this acquisition, we will continue to strengthen our presence in the U.S."
As per MRC, Aliaxis (Brussels) acquired the remaining shares in its Chilean competitor Vinilit (Santiago de Chilel) in a deal the financial details of which were not disclosed. The Belgian group already owned a 40% stake in Vinilit and bought the outstanding shares from construction group Pizarreno (Santiago / Chilel), which in turn belongs to Etex (Brussels / Belgium).
We remind, Ipex has completed its stock purchase of Silver-Line Plastics. Silver-Line Plastics is a U.S. manufacturer of plastic pipe products with production facilities in North Carolina, Oklahoma, and Florida.
The Aliaxis Group is a leading global manufacturer and distributor of primarily plastic fluid handling systems used in residential and commercial construction, as well as in industrial and public infrastructure applications.
MRC