Fortress Investment Group (“Fortress”)announced that funds managed by its affiliates have acquired Infra Pipe Solutions (“the company” or “IPS”), a leading manufacturer of small to large diameter high density polyethylene (HDPE) pipes and structures which are sold under brand names including Sclairpipe®, Weholite®, Endopure® and Enduct®.
Funds managed by affiliates of Fortress have acquired a majority of IPS’s equity; the company’s management team has retained a minority stake.
Infra Pipe Solutions is one of the largest HDPE pipe and conduit manufacturers in North America, with industry-leading technical knowledge and a product range that have been honed through more than 50 years of continuous HDPE pipe production and innovation. The company has grown significantly over the past decade through organic growth and strategic acquisitions, including the acquisition of Endot Industries.
“Our new partnership with Fortress is the start of an important next chapter for IPS, with increased investment to fuel our growth. We see strong demand for our product over the coming decades as hundreds of billions of dollars have been committed to projects across North America that rely on HDPE product,” said Bill Donaldson, CEO of Infra Pipe Solutions. “From the broad expansion and rehabilitation of potable water transmission in the US, to the ongoing build-out of broadband across rural Canada and the USA, to the huge demand for data transmission infrastructure created by AI, to the transmission of minerals fundamental to the clean-energy transition – Infra Pipe Solutions is exceptionally well-positioned to supply products that are essential to infrastructure development. This new investment in our company will increase our ability to meet the increased demand and better serve our customers.”
Ben Green, Director at Fortress, added: “We believe that IPS today holds a very favorable market position in HPDE product manufacturing – with the broadest product range and manufacturing footprint – and that our investment will increase the company’s ability to grow and meet the increasing demand for its products. The company’s management team has developed a compelling growth plan, and we look forward to working with the team to deliver on that strategy.”
With manufacturing plants in Saskatoon, SK, Huntsville, ON, Rockaway, NJ, Pryor, OK, and Greeneville, TN, Infra Pipe Solutions today has a market-leading geographic footprint across North America, and a product range with market-leading breadth. The company’s products are designed for applications that include potable water, wastewater, storm water, irrigation, manholes, geothermal vaults and pump stations; natural gas distribution; mining of copper, nickel, lithium and other minerals; and telecommunications conduit.
The company offers its Sclairpipe, EndoPure and Endopoly products for pressure applications in sizes from 0.5” to 63" internal diameter; its Weholite structural profile wall pipe for gravity-fed and low-pressure applications in custom sizes up to 132” internal diameter; its medium- and high-density gas distribution pipe in industry standard sizes; and its conduit products in industry standard configurations of color and pull tape combinations.
Moelis & Company LLC is acting as exclusive financial advisor to Fortress. Evercore is acting as placement agent to Fortress on the financing.
About Infra Pipe Solutions
Infra Pipe Solutions (IPS) is a leading manufacturer of large diameter High Density Polyethylene (HDPE) pipe and structures. Based in Mississauga, ON, the company operates from five locations across Canada and the United States. IPS is the North American licensee for Weholite from Uponor Infra Oy.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $48 billion of assets under management as of June 30, 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
