Plumbing manufacturer IPS Corp. announces consolidation
IPS Corp. announced that Sherman Capital Holdings LLC, a private investment firm, has purchased the company from Nautic Partners LLC, a private equity firm that had been the prior owner for nearly three years. IPS is a global manufacturer of specialized, highly engineered industrial products serving diverse industrial, commercial and residential end markets. With a buy-and-hold investment strategy, Sherman Capital will focus on IPS’ long-term growth and operational efficiency.
Tracy Bilbrough, chairman and CEO of IPS, said, “Looking forward, we are extremely excited about our new ownership and structure. This transaction will offer IPS the support necessary to continue to grow our businesses at an above-market pace, through both investments in our existing operations and continuing our successful track record of strategic acquisitions.
“Our customers and suppliers will not experience any change from this transaction in day-to-day interactions with our company, or on how we will continue to focus on our customers, our products and on delivering continued operational excellence.”
Selling through the professional trade channel, IPS is involved in multiple product categories, including solvent cements, structural adhesives, specialty plumbing and roofing products.