中文AV

Transaction Marks Successful Realization Two Years After Initial Investment, EBITDA Nearly Doubled During Firm鈥檚 Ownership

NEW YORK 鈥� APRIL 26, 2019 鈥� 中文AV (鈥淥EP鈥�), a leading middle market private equity firm, today announced that it has entered into a definitive agreement to merge Anvil International (鈥淎nvil鈥� or 鈥渢he Company鈥�), a global designer, manufacturer and provider of high-quality products that connect and support piping systems, with Smith-Cooper International (鈥淪mith-Cooper鈥�), a global designer and provider of branded, high-quality pipes, valves, and fittings. The realization represents the second exit from OEP鈥檚 $1.65 billion Fund VI. Financial terms of the private transaction were not disclosed.

Anvil, headquartered in Exeter, N.H., manufactures branded fittings, seismic bracing, struts, pipe shields and valves for U.S. and global businesses across the industrial, mechanical, fire protection, mining and energy industries. The Company鈥檚 complete line of piping and connection support systems are manufactured in Pennsylvania, Texas, Rhode Island, Tennessee and Alabama.

鈥淲hen we partnered with Anvil, we saw an excellent opportunity to bring OEP鈥檚 expertise and resources to bear in supporting CEO Tom Fish and his team to establish an independently-managed business serving attractive end markets,鈥� said Andrew Oliver, Managing Director, OEP. 鈥淭his has been an exceptional investment for our investors, reflecting OEP鈥檚 core strengths in acquiring an orphaned business in partnership with management to build a truly global and scalable business in one of our target industry verticals.鈥�

鈥淥ur investment in Anvil is evidence of OEP鈥檚 successful approach that includes developing an investment theme, applying analytics, conducting thorough research and identifying an exit path at the time of investment,鈥� said JB Cherry, Senior Managing Director, OEP.

OEP acquired Anvil through a carve-out transaction in January 2017. The Company subsequently made acquisitions of five complementary businesses that transformed it into a leader with strong global distribution operations. The firm and Anvil鈥檚 management team optimized manufacturing facilities, expanded its piping business into higher-margin product segments and nearly doubled its EBITDA during OEP鈥檚 ownership.

鈥淭hese add on acquisitions were transformational for Anvil, expanding its product offerings and generating significant growth,鈥� said Lee Gardner, Managing Director, OEP.

鈥淲e found an outstanding partner in OEP who worked collaboratively with Anvil to identify and execute several attractive complementary acquisitions that drove our strong growth trajectory over the last two years,鈥� said Fish. 鈥淭he merger with Smith-Cooper is testament to OEP鈥檚 ability to build businesses and attract the interest of a strong buyer.鈥�

About 中文AV

OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit .

About Anvil International

Anvil International is one of the largest and most complete manufacturers of pipe fittings, couplings, pipe hangers and piping support systems in the world. For more than 165 years, Anvil has provided the highest-quality pipe products and services with integrity and dedication to superior customer service. The company offers expertise and product solutions for a wide range of applications, from plumbing and mechanical, HVAC, industrial and fire protection, to mining and oil and gas. Anvil offers products and services worldwide. Anvil鈥檚 portfolio of brands includes AFCON, JBS, Anvil-Strut, SprinkFLEX, SPF/Anvil, Catawissa, Gruvlok, Beck, Merit, FlexHead, Basic-PSA, North Alabama Pipe, Anvil EPS and Megawatt. Its ISO 9001:2008 certified manufacturing facilities are located in PA, TN, TX, AL and RI. For more information, contact Anvil鈥檚 corporate offices at 603-418-2800, 2 Holland Way, Exeter, NH 03883 or visit .

Press contact for 中文AV:
Kelly Holman
Stanton
646-502-3509
KHolman@StantonPRM.com