Pipe maker Atkore Inc. is expanding its reach in high density polyethylene pressure pipe with the purchase of United Poly Systems, continuing the company's recent acquisition streak.
Atkore, based in Harvey, Ill., said in a June 22 announcement that adding the Springfield, Mo.-based United Poly and its two plants in Missouri and New Mexico will allow it to better tap into telecom, water infrastructure, renewables and energy markets.
"HDPE pipe and conduit is a growing market that is expected to benefit from U.S. infrastructure legislation," said John Pregenzer, president of Atkore's electrical business. "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 HDPE customers' needs."
Atkore ranked 16th in the 2021 Plastics News ranking of pipe, profile and tubing makers with $309 million in relevant sales, while United Poly had an estimated $80 million in sales and ranked 50th.
Publicly traded Atkore in November had announced it would spend $1 billion in cash on capital expenditures, acquisitions and stock repurchases over the next three years, and has been buying other companies.
In May, it said it purchased Talon Products LLC, a small injection molder in Hammond, La., that makes specialized cable cleats for holding electrical cables in place.
In December, it bought another, smaller maker of HDPE conduit, Four Star Industries in Allendale, S.C. That company has 30 employees.
Atkore did not disclose the purchase price of the United Poly deal but said it's spent $250 million in the last six months on mergers and acquisitions.
In December, it also bought a Canadian manufacturer of metal framing and related products, Sasco Tubes & Roll Forming Inc.,
In the 2021 Plastics News ranking, Atkore listed seven manufacturing plants in North America.
The company said United Poly, which has about 160 employees, would continue operating both its Springfield and Albuquerque plants.
United Poly was previously owned by Opportunity Partners, a private equity firm in Evanston, Ill.
On May 3, Atkore reported second quarter net sales of $982.6 million, up 53 percent compared to the same period a year earlier, and it said its net income rose $108.5 million, to $233.5 million.
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