BEDFORD, MASS. — Viega signed an agreement in late September for the acquisition of the piping systems businesses of Vanguard Piping Systems and Midtec Inc. Purchase terms were not disclosed.
"This acquisition will allow Viega to accelerate our growth strategy in the U.S. market — Vanguard and Midtec will clearly be an integral part of the-success of Viega," said Dan Schmierer, president of Viega. "Not only does Vanguard offer Viega an excellent distribution platform, Vanguard employees are viewed as a critical asset to Viega's future success."
The addition of Vanguard's competencies will give Viega an excellent channel and platform to continue to grow its North American sales and operations, Schmierer said. The agreement extends Viega's reach into specific product categories such as PEX tubing and will assist in solidifying its position in the U.S. radiant heating sector, he added. Vanguard designs and manufactures water distribution systems, hydronic radiant heating systems and precision fittings. Vanguard and Midtec's branded product offerings are based on its MANABLOC water distribution systems, Vanex ULTRA cross-linked polyethylene tubing and CRIMPSERT fittings.
Viega North America is a wholly owned subsidiary of Viega GmbH & Co. KG, which is headquartered in Attendorn, Germany. Viega NA has been active in North America since 1999 focusing on the commercial and residential plumbing and heating markets.