July 1, 2013: Morgenthaler Announces Recapitalization of United Pipe & Steel
David Cohen Will Retain Substantial Ownership Interest
BOSTON — Morgenthaler Private Equity (MPE) has announced the recapitalization of United Pipe & Steel Corp. (UP&S), a leading independent master distributor of steel pipe, copper tubing, plastic pipe, electrical conduit, and related products serving customers in the plumbing; HVAC; pipe, valve, and fittings (PVF); waterworks; and electrical markets. UP&S founder and owner, David Cohen, will retain a substantial ownership interest. President and CEO Greg Leidner will continue to lead the company.
Joe Machado, partner at MPE, said, “We are pleased to partner with David, Greg, and the entire senior management team at UP&S. Our goal is to double the company’s revenues over a five year period through exciting organic growth initiatives and complementary add-on acquisitions.”