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GE Capital Provides Financing in Nautic Partners’ Acquisition of IPS

February 10, 2015, 07:46 AM
Filed Under: Manufacturing

Nautic Partners, LLC (“Nautic”) announced that it has partnered with management to acquire IPS Corporation. IPS is a global provider of solvent cements, specialty plumbing products and specialty adhesives. Terms of the transaction were not disclosed. GE Capital and LStar Capital provided financing for the transaction. Robert W. Baird & Co. acted as financial advisor to the company.

Founded in 1954 and headquartered in Compton, CA, IPS has a robust product line-up that enjoys strong end user loyalty. Its WELD-ON® solvent cements bind PVC, CPVC and ABS piping systems and were developed by IPS 60 years ago. WELD-ON has market-leading positions in all of its served markets, including irrigation, industrial, electrical, pool & spa and plumbing.

Founded in 1986, Nautic is a middle-market private equity firm with over $2.5 billion of assets under management. The firm has completed 118 transactions in partnership with management. Nautic targets equity investments of $25-$75 million, representing majority ownership in niche businesses with strong market share and growth potential, identified value enhancement opportunities and strong management teams. Areas of focus include business services, manufacturing and healthcare.

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