American Piping Products, Inc. (“APP”), announced that it has received a growth equity investment from a leading private equity firm to accelerate APP’s growth. The equity investment was led by The Edgewater Funds (“Edgewater”) in partnership with APP’s senior management team. APP is a rapidly growing distributor of specialty steel pipe, fittings, and valves to global infrastructure customers in the energy, manufacturing, and construction industries. APP is recognized for its in-stock availability of niche products that meet its customers’ demands in a complex, international supply chain. APP sources and stocks inventory from a network of qualified producers and suppliers with whom it enjoys long standing relationships based on quality and performance at high service levels.
The recapitalization positions APP for continued growth by providing capacity for expanding its product offering and investing further in scalable operating assets. Since its founding in 1994, APP has developed a strong competitive position in the supply of heavy-all, seamless pipe. The company currently employs 34 people in its headquarters in Chesterfield, Missouri; its service center in Houston, Texas and sales office in Philadelphia, Pennsylvania.
“We are delighted to have partnered with Edgewater,” commented Michael Phelan, President and founder of APP. “We look forward to taking the next step in our company’s growth with the resources and experience Edgewater brings to APP,” added Al Rheinnecker, COO of APP, “This investment will allow us to take advantage of the significant opportunities we see in supplying global infrastructure initiatives, both now and over the next several years.”
Jeffrey Frient, Partner at Edgewater, said “We are excited to partner with APP and the two highly successful entrepreneurs who have led the company to date. Together with them, we will move quickly to enhance APP’s competitive position and strengthen its ability to capture future, profitable growth.”
About American Piping Product, Inc. American
Piping Products, Inc. is an international supplier of steel pipe and related products to the energy, manufacturing, and construction industries. American Piping focuses on the distribution of heavy-wall carbon, stainless, and chrome-moly pipe, tube, fittings and valves. From its Houston Texas service center, American Piping receives, processes, and ships product to throughout the North America, Europe, and the Far East. American Piping is recognized for its depth and breadth of stock inventory in the product categories it supports. Other services include logistics support, quality assurance, export packaging, production saw cutting, and same day shipments. For information, visit www.amerpipe.com.