Silver-Line Plastics agrees to be acquired by IPEX
August 26, 2019
Silver-Line Plastics has that its shareholders have entered into a Share Purchase Agreement pursuant to which it will be acquired by IPEX. Silver-Line Plastics is a U.S. manufacturer of plastic pipe products with facilities in Asheville, NC, Lawton, OK and Fort Pierce, FL.
With this acquisition, IPEX intends to increase its market position in the U.S. with an expanded product portfolio serving a broader client base.
“Like IPEX, Silver-Line has a strong reputation in the marketplace for being customer-focused and supplying high quality products. This acquisition will significantly contribute to our growth objectives in the U.S.,” said Alex Mestres, IPEX CEO. “I am excited about the opportunities that our complementary businesses will offer our expanded customer base and look forward to welcoming the Silver-Line employees to our family.”
“I am truly honoured to make this announcement,” said Silver-Line CEO, Ricky Silver. “The synergies between our two companies will provide our employees, customers and the market as a whole with a broader product offering, increased focus on customer service, and technology strengths that are world class. I cannot imagine a better fit. My father, who co-founded our company, agrees completely.”
The sale is subject to regulatory approval. Both parties have agreed not to disclose the price and terms of the deal, and anticipate a completion of the transaction over the coming weeks.