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Article: NPC ownership changes hands.(Bethesda)
- Article from:
- Rubber & Plastics News
- Article date:
- July 11, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Brad Dawson
NPC Inc., the market leader in flexible rubber pipe-to-manhole connectors for sanitary and storm drainage systems, has a new majority owner after a June 22 buyout by a Bethesda, Md., investment and equity firm.
The company also divested its extruded pipe gasket business June 17, choosing to focus instead on its molded sealing operations, said Randy Snyder, NPC president and CEO.
American Capital Strategies Ltd. spent $30 million to buy about 89 percent of NPC from New York-based Riverside Co., another equity firm which owned NPC for more than five years. A team of NPC senior managers also reinvested in the company to hold ...