NIBCO signed a purchase agreement to acquire the assets of Consolidated Plumbing Industries, according to Rex Martin, chairman, president and CEO. CPI manufactures cross-linked polyethylene (PEX) tubing for the North American water distribution and radiant heating markets at its manufacturing location in Lebanon, OH. CPI's headquarters and distribution center are in Knoxville, TN. The transaction was to be finalized by mid-May.
CPI manufactures DURA-PEX® tubing for the wholesale, retail and OEM markets. CPI's other brands include Push 'N Go® fittings, Basic Radiant®, DURA-PRO™ metal insert fittings, and the Grand Slam Manifold®.
The acquisition of CPI's line of PEX products complements NIBCO's NEXT-Pure™ PEX and residential plumbing product lines. NIBCO introduced NEXT-Pure ™, a complete PEX potable water system, in March 2005.
“The PEX plumbing and heating industry is expected to grow significantly over the next several years,” Martin said in a statement. “This acquisition positions NIBCO to emerge as one of the few dominant residential and commercial leaders in the PEX industry.”
NIBCO operates 12 manufacturing plants throughout the United States, Mexico and Poland.