|Center Rock Invests in Leading Global Distributor of Steel Pipe CHICAGO, IL and BLOOMFIELD HILLS, MI – September 17, 2018 – Center Rock Capital Partners, LP (“Center Rock”) is pleased to announce that it has acquired American Piping Products (“APP”), a leading global distributor of steel pipe, fittings and valves. APP marks Center Rock’s second platform investment out of its inaugural investment vehicle, Center Rock Capital Partners Fund I, LP. |
Founded in 1994 and headquartered in St. Louis, Missouri, APP is a specialized distributor of seamless and welded pipe and tubular related products. The company serves international customers in a variety of end markets including energy, refining, petrochemical, power generation and diversified industrial. With a large in-stock inventory of niche products and easy access to shipping channels in North America, APP quickly meets customers’ demands in a complex supply chain and is recognized for its world-class customer service.
“We are excited to embark on this next phase of our growth with Center Rock,” said Al Rheinnecker, CEO of APP. “Center Rock understands the importance of investing in our employees, suppliers and systems to provide the highest level of customer service and responsiveness. We look forward to working with the Center Rock team to expand our product offering and pursue growth opportunities in the steel pipe market.”
“Al and the team at APP have built an exceptional organization. With a unique position in the supply chain and diverse end markets, APP has performed well through all industry cycles,” said Ian Kirson, Partner at Center Rock. “We admire APP’s leadership in the markets they serve. Al and his team have created a business with a culture of operational excellence that continually provides unsurpassed customer service and value-added solutions to its customers,” added Terry Theodore, Partner at Center Rock.
ABOUT AMERICAN PIPING PRODUCTS
American Piping Products is a leading global distributor of specialized seamless steel pipe, fittings and related products to customers in the energy, refining, petrochemical, power generation and diversified industrial end markets. For more information, please visit www.amerpipe.com.
ABOUT CENTER ROCK CAPITAL PARTNERS
Center Rock is a Midwest-based private equity firm focused on building leading industrial companies in the lower middle market. Center Rock seeks industrial manufacturing, industrial services and industrial distribution companies headquartered in North America, often with multi-national operations and locations that serve both domestic and global markets. With substantial expertise working constructively with management teams to drive both operational and strategic improvement, Center Rock’s investment professionals have the flexibility and tools to invest in a broad array of transactions and build value in lower middle market industrial companies. For more information, please visit www.centerrockcp.com.