Springfield-based polyethylene pipe manufacturer United Poly Systems LLC has been acquired for the second time since 2019.
Harvey, Illinois-based Atkore Inc. (NYSE: ATKR), which operates electrical, safety and infrastructure centers worldwide, announced the acquisition of United Poly Systems on Wednesday. The financial terms of the deal were not disclosed in a news release.
"We are pleased to complete the acquisition of United Poly Systems, which strengthens Atkore’s product portfolio, expands our manufacturing capacity and further enables us to meet (high density polyethylene) customers’ needs," said John Pregenzer, president of Atkore’s electrical business, in the release. "HDPE pipe and conduit is a growing market that is expected to benefit from U.S. infrastructure legislation, and United Poly Systems is a great addition to Atkore."
United Poly Systems' Springfield plant is located at 4707 E. Kearney St. in Partnership Industrial Center. The 48,500-square-foot building sits on 6 acres, according to SpringfieldRegion.com.
United Poly Systems previously was owned by Evanston, Illinois, private equity firm Industrial Opportunity Partners, which bought the company in 2019, according to the Springfield manufacturer's website.
Between the Springfield plant and an operation in Albuquerque, New Mexico, United Poly Systems has 160 employees, according to the release. It will continue operating at both locations under the ownership of Atkore, officials said.
United Poly Systems marks Atkore's fourth acquisition in fiscal 2022. United Poly Systems was founded in 2011.
"The acquisition of United Poly Systems advances our objective announced in November 2021 to deploy more than $1 billion in cash toward capital expenditures and other organic investments, M&A and stock repurchases over the next two to three years to drive growth and enhance value for shareholders," Atkore President and CEO Bill Waltz said in the release. "United Poly Systems exemplifies our approach to acquiring strong businesses in key end markets that will enable us to maintain and expand our leadership position in the marketplace.”
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