The Halifax Group, a private equity firm that partners with management to invest in growing entrepreneurial companies, announced today that it has sold PolyPipe Holdings, Inc. (“PolyPipe”) to Dura-Line Holdings, Inc. Terms of the sale were not disclosed.
Headquartered in Gainesville, Texas, PolyPipe is a leading independent North American manufacturer of pressure-rated polyethylene pipe (“PE pressure pipe”), used in a diverse range of infrastructure applications across a variety of end markets, including energy, natural gas distribution, potable water/sewer, nuclear power, mining and industrial.
This marks the second sale of a portfolio company for Halifax in as many weeks. In early April, Halifax exited Service Champ Inc., a leading distributor of light vehicle maintenance parts.
Halifax acquired PolyPipe in February 2005. In partnership with Halifax, the company built two new plants, expanded its product scope, added capacity, developed proprietary products, and implemented state-of-the art quality control systems to become a leading independent manufacturer of PE pressure pipe. PolyPipe was the first PE pressure pipe company to become nuclear certified and is the only manufacturer capable of manufacturing pipe inscribed with a permanent bar-code for pipe traceability.
“We are extremely proud of what the PolyPipe team accomplished, which could not have been done without the tenacious leadership of PolyPipe’s executive team and insight from its world class independent directors,” stated Brent Williams, Managing Director at Halifax. “Under Jim Moore’s leadership, PolyPipe’s management team and employees built a true market leader with clear competitive differentiation.”
Scott Van Duinen, Principal at Halifax, added, “During our partnership the one constant at PolyPipe was change. Jim Moore and his team were able to stay ahead of and lead the market with new services, products, customer programs, and technologies."
“PolyPipe’s success was the culmination of years of effort made possible by a great management team, a true partnership with Halifax, a value-added board of directors, and clear strategic direction,” said Jim Moore, PolyPipe’s CEO. “Halifax was very engaged and always focused on making the business better.”
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