CLEVELAND and BOSTON, July 5, 2023 - MPE Partners ("MPE" or "Morgenthaler Private Equity"), along with portfolio company 80/20, LLC ("80/20") of Columbia City, IN, announced the acquisition of Les Industries Flexpipe, Inc. ("Flexpipe" or the "Company") of Farnham, Quebec. Flexpipe is a manufacturer and distributor of steel modular framing structures and material handling systems used predominantly in lean manufacturing applications.
MPE and 80/20 partnered in the transaction with Flexpipe's owners, Julien Depelteau and Sylvain Lejour, as well as its management team led by General Manager, Benjamin Ricard. Doug Waldal, CEO of 80/20, said, "Flexpipe has developed an exceptional brand and expands 80/20's product line along with opening up new customers and applications. We are excited to partner with the team and look forward to growing the combined business together."
Karen Tuleta, Partner at MPE, added, "We saw a terrific fit between 80/20 and Flexpipe and believe the shared capabilities and cross-selling opportunities will accelerate the growth of the combined company."
Julien Depelteau, CEO and President of Flexpipe, said, "We're exceptionally proud of what Flexpipe has accomplished and look forward to the next phase in the Company's growth. 80/20 carries an outstanding reputation in the industry and is an excellent fit for Flexpipe to continue serving our customers and employees."
BakerHostetler and Bennett Jones served as legal counsel for MPE Partners. Copper Run served as buyside advisor to 80/20. Terms of the transaction were not disclosed.
About Flexpipe
Located in Farnham, Quebec, Flexpipe is a manufacturer and distributor of steel modular framing structures and material handling systems used predominantly in lean manufacturing applications. Products include coated steel pipes, joints, roller tracks, panels, fasteners, casters, and related tools & accessories, which are sold as individual parts as well as fully assembled custom structures designed by Flexpipe's project team. The Company primarily sells direct to end users, as well as through distributors and integrators throughout the U.S. and Canada. For more information, please visit https://www.flexpipeinc.com/us_en.
About 80/20
Located in Columbia City, Indiana, 80/20, LLC is a designer, manufacturer and distributor of a modular T-slot aluminum building system for various applications and end markets. From light to heavy-duty, 80/20's products provide the perfect solution for automation challenges, robotic support, machine frames, guarding, enclosures, displays, workstations and the DIY home hobbyist. With over 8,500 SKUs, the company's products are fully customizable and scalable to adapt to changing requirements over time, making 80/20 a key partner in its customers' automation and growth initiatives. The company serves more than 40,000 end users through its nationwide distributors and direct through its website: www.8020.net.
About MPE Partners
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
SOURCE MPE Partners
