BRUSSELS, Belgium – Aliaxis SA announced Tuesday that it has signed an agreement to acquire the manufacturing division of California-based Valencia Pipe Company.
With this $250 million acquisition, Aliaxis will expand in the key market of the Western U.S. by adding two production facilities and one distribution center in the states of Arizona and Washington.
Valencia's pipe and fittings manufacturing division primarily produces plumbing solutions for the residential market.
“This acquisition will contribute to our 'growth with purpose' strategy and will allow us to provide our national customers with a truly coast-to-coast presence," said Aliaxis CEO Eric Olsen. "Valencia’s plastic pipe and fittings manufacturing division brings two modern plants and a distribution center, providing a highly complementary geographic and product fit with IPEX, Aliaxis’s leading brand in North America.”
comments: “We are pleased to be adding the Valencia team to the IPEX team and wish them a warm welcome. This acquisition provides us with an excellent opportunity to expand our reach into the Western United States to enter new markets and be the partner of choice for our national customers," said Alex Mestres, Aliaxis' Americas division CEO.
The deal is subject to regulatory approval. Both parties anticipate a completion of the transaction over the coming weeks.