COSTA MESA, Calif., March 16, 2005 (PRIMEZONE) -- Charlotte Pipe & Foundry Inc. has acquired Thompson Plastics Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Thompson Plastics.
"The transaction was executed at a significant market premium and was completed less than six months after discussions were initiated," said Brian Boyle, director. "The acquisition will provide Charlotte Pipe & Foundry with meaningful synergies gained from combining manufacturing operations -- while reducing margin pressure by eliminating a top competitor from the market."
About RSM EquiCo, Inc.
RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Thompson Plastics Inc.
Founded in 1982, Thompson Plastics manufactures materials for potable water applications and fire protection systems. Thompson's chlorinated poly-vinyl chloride pipes and fittings, used for hot and cold potable water distribution systems, are designed to replace copper and other metal piping systems because they are more economical, are immune to microbiologically and salt-air influenced corrosion, possess low flame and smoke characteristics and are ideal for cold weather and retrofit construction projects. Thompson's polyethylene tubing, used for fire protection systems, allow for faster installation and better service with less time and expense than competing products due to their flexible and durable characteristics. The company is headquartered in Huntsville, Alabama.
About Charlotte Pipe & Foundry Inc.
Founded in 1901, Charlotte Pipe & Foundry manufactures pipes and fittings for residential, commercial and industrial applications. The company's products are made of a variety of materials, such as cast iron, polyvinyl chloride, chlorinated polyvinyl chloride and acrylonitrile butadiene styrene. Based in Charlotte, North Carolina, the Charlotte Pipe and Foundry employs over 1,400 people throughout its five locations, which also include Monroe, North Carolina; Cameron, Texas; Wildwood, Florida; and Muncy, Pennsylvania. Charlotte Pipe & Foundry is ranked as one of the top pipe extruders and plastic processors in the United States.