NEW YORK – APRIL 26, 2019 – One Equity Partners (OEP), a distinguished middle market private equity firm, announced today the successful merger of its portfolio company, Anvil International (Anvil), with Smith-Cooper International (Smith-Cooper). This strategic transaction marks a significant milestone for One Equity Partners Anvil, culminating in a highly profitable realization just two years after OEP’s initial investment. During One Equity Partners’ ownership, Anvil International experienced substantial growth, nearly doubling its EBITDA. The financial details of this private transaction remain undisclosed.
Anvil International, headquartered in Exeter, New Hampshire, is a globally recognized designer and manufacturer of premium piping connection and support solutions. The company’s comprehensive product portfolio includes branded fittings, seismic bracing, struts, pipe shields, and valves. These products serve a diverse range of critical industries, including industrial, mechanical, fire protection, mining, and energy sectors across the United States and international markets. Anvil’s robust manufacturing footprint spans across several states, including Pennsylvania, Texas, Rhode Island, Tennessee, and Alabama.
“Our initial investment in Anvil International was driven by the conviction that One Equity Partners’ operational expertise and resources could significantly enhance the company’s potential,” stated Andrew Oliver, Managing Director at OEP. “We saw a clear opportunity to collaborate with CEO Tom Fish and his leadership team to establish Anvil as a fully independent and agile business, strategically positioned within highly attractive end markets. The remarkable success of this investment, reflected in the strong returns for our investors, underscores OEP’s fundamental strengths in acquiring businesses with untapped potential and guiding them towards global scalability and market leadership within our core industry verticals.”
JB Cherry, Senior Managing Director at OEP, further emphasized the strategic foresight behind the investment: “The Anvil investment exemplifies One Equity Partners’ disciplined investment methodology, which encompasses developing a robust investment thesis, leveraging in-depth analytics, conducting meticulous due diligence, and identifying clear value creation and exit strategies from the outset.”
One Equity Partners acquired Anvil International in January 2017 through a strategic carve-out transaction. Under OEP’s guidance, Anvil embarked on a transformative growth journey, marked by the strategic acquisition of five complementary businesses. These acquisitions were instrumental in expanding Anvil’s product offerings and solidifying its position as a global leader in piping solutions. Furthermore, One Equity Partners and Anvil’s management team focused on operational excellence, optimizing manufacturing efficiencies, and strategically expanding into higher-margin product segments within the piping business. These initiatives collectively contributed to the near doubling of Anvil’s EBITDA during OEP’s ownership period.
Lee Gardner, Managing Director at OEP, highlighted the impact of the strategic acquisitions: “These add-on acquisitions were truly transformational for Anvil International. They significantly broadened the company’s product suite, enhanced its market reach, and were a key driver of the impressive growth trajectory achieved over the past two years under One Equity Partners’ ownership.”
Tom Fish, CEO of Anvil International, lauded the collaborative partnership with OEP: “In One Equity Partners, we found an exceptional partner who worked closely with the Anvil team to identify and seamlessly execute several highly accretive acquisitions. This collaborative approach was fundamental to achieving our strong growth trajectory over the past two years. The merger with Smith-Cooper is a compelling testament to One Equity Partners’ ability to build businesses of significant scale and attractiveness, ultimately capturing the interest of a strong strategic buyer.”
About One Equity Partners
One Equity Partners (OEP) is a middle-market private equity firm with a distinctive focus on the industrial, healthcare, and technology sectors across North America and Europe. The firm specializes in building market-leading companies by pursuing and executing transformative business combinations. OEP distinguishes itself through its differentiated investment process, a highly experienced and senior team, and a proven track record of generating long-term value for its investors and partners. Since its inception in 2001, OEP has successfully completed over 180 transactions globally. Founded in 2001, One Equity Partners spun out of JP Morgan in 2015 and currently operates from offices in New York, Chicago, and Frankfurt. For further information, please visit www.oneequity.com.
About Anvil International
Anvil International stands as one of the world’s largest and most comprehensive manufacturers of pipe fittings, couplings, pipe hangers, and piping support systems. With a legacy spanning over 165 years, Anvil has consistently delivered superior-quality pipe products and services, underpinned by a commitment to integrity and exceptional customer service. The company provides extensive expertise and tailored product solutions across a broad spectrum of applications, ranging from plumbing and mechanical, HVAC, industrial, and fire protection to the demanding sectors of mining, oil, and gas. Anvil’s products and services are available worldwide. Anvil’s portfolio includes a diverse array of respected brands, such as AFCON, JBS, Anvil-Strut, SprinkFLEX, SPF/Anvil, Catawissa, Gruvlok, Beck, Merit, FlexHead, Basic-PSA, North Alabama Pipe, Anvil EPS, and Megawatt. Anvil operates ISO 9001:2008 certified manufacturing facilities located in PA, TN, TX, AL, and RI. For more information, please contact Anvil’s corporate offices at 603-418-2800, 2 Holland Way, Exeter, NH 03883 or visit www.anvilintl.com.
Press Contact for One Equity Partners:
Kelly Holman
Stanton
646-502-3509
[email protected]
