ASHEVILLE, NC – Silver-Line Plastics announced today that its shareholders have entered into a Share Purchase Agreement pursuant to which it will be acquired by IPEX.
Silver-Line Plastics is a US leader in the manufacturing of plastic pipe products with state-of-the-art production facilities in Asheville, North Carolina; Lawton, Oklahoma; and Fort Pierce, Florida. With this acquisition, IPEX will increase its market position in the US with an expanded product portfolio serving a broader client base.
“Like IPEX, Silver-Line has a strong reputation in the marketplace for being customer focused and supplying high quality products. This acquisition will significantly contribute to our growth objectives in the US”, says Alex Mestres, IPEX CEO. “I am excited about the opportunities that our complementary businesses will offer our expanded customer base and look forward to welcoming the Silver-Line employees to our family.”
Silver-Line CEO, Ricky Silver, echoes the excitement, “I am truly honored to make this announcement. The synergies between our two companies will provide our employees, customers and the market as a whole with a broader product offering, increased focus on customer service, and technology strengths that are world class. I cannot imagine a better fit. My Father, who co-founded our Company, agrees completely.”
The sale is subject to regulatory approval. Both parties agree not to disclose the price and terms of the deal, and anticipate a completion of the transaction over the coming weeks.