Key Takeaways
- • American Piping Products, a leading value-added distributor of specialty steel pipe, tube, fittings, and flanges founded in 1994, was acquired by Center Rock Capital Partners with the transaction closing on September 14, 2018.
- • The Edgewater Funds exited its investment in American Piping Products through the Center Rock acquisition, representing a portfolio company exit for the Chicago-based private equity firm with $2.7 billion in committed capital at the time of the transaction.
- • American Piping Products operates processing facilities across three U.S. locations (Chesterfield, Missouri headquarters; Houston, Texas; and Chicago, Illinois) and serves more than 1,800 customers across industries including power generation, oilfield applications, gas and chemical processing, shipbuilding, and pressure vessels.
- • Center Rock Capital Partners, a Midwest-based lower-middle-market private equity firm, acquired the company as part of its strategy to build leading industrial companies with operational and strategic improvement expertise.
- • Houlihan Lokey served as financial advisor to The Edgewater Funds on the transaction.
Summary
American Piping Products, a distributor of specialty steel pipe and tubular products, was acquired by Center Rock Capital Partners in a transaction that closed on September 14, 2018. The company, which had been held as a portfolio investment by The Edgewater Funds, represents a strategic add for Center Rock's industrial distribution platform. Founded in 1994, American Piping Products had established itself as a leading global distributor of high-quality seamless and welded pipe and specialty products serving a diverse customer base of approximately 1,800 accounts.
The company's operational footprint spans three key U.S. locations: its headquarters in Chesterfield, Missouri, complemented by steel processing facilities in Houston, Texas, and Chicago, Illinois. This geographic distribution positions the company to serve end-markets across power generation, oilfield applications, gas and chemical processing, shipbuilding, and pressure vessel manufacturing—sectors that require specialized supply chain capabilities and just-in-time delivery capabilities.
The Edgewater Funds, a Chicago-based private equity firm managing $2.7 billion in committed capital at the time, positioned the company for growth through its Edgewater Growth Capital Partners platform before facilitating the exit to Center Rock. Center Rock Capital Partners, a Midwest-focused private equity firm specializing in lower-middle-market industrial companies, brings substantial operational expertise and a track record of driving value through both operational improvements and strategic initiatives across manufacturing, services, and distribution platforms. The firm focuses on companies headquartered in North America with multinational operations and serves both domestic and global markets.
Houlihan Lokey provided financial advisory services to The Edgewater Funds on the transaction, leveraging its experience in industrial distribution and private equity transactions to facilitate the sale process.
The company's operational footprint spans three key U.S. locations: its headquarters in Chesterfield, Missouri, complemented by steel processing facilities in Houston, Texas, and Chicago, Illinois. This geographic distribution positions the company to serve end-markets across power generation, oilfield applications, gas and chemical processing, shipbuilding, and pressure vessel manufacturing—sectors that require specialized supply chain capabilities and just-in-time delivery capabilities.
The Edgewater Funds, a Chicago-based private equity firm managing $2.7 billion in committed capital at the time, positioned the company for growth through its Edgewater Growth Capital Partners platform before facilitating the exit to Center Rock. Center Rock Capital Partners, a Midwest-focused private equity firm specializing in lower-middle-market industrial companies, brings substantial operational expertise and a track record of driving value through both operational improvements and strategic initiatives across manufacturing, services, and distribution platforms. The firm focuses on companies headquartered in North America with multinational operations and serves both domestic and global markets.
Houlihan Lokey provided financial advisory services to The Edgewater Funds on the transaction, leveraging its experience in industrial distribution and private equity transactions to facilitate the sale process.
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