Vancouver-based Northwest Pipe Company bought a major Texas-based water pipeline manufacturer on Tuesday. The move expands Northwest Pipe not only into the Texas water infrastructure, but will also likely expand the Vancouver company’s footprint.
Northwest Pipe, one of Vancouver’s handful of public companies, bought Park Environmental Equipment for $87.4 million, according to a news release. The Texas-based company, also called ParkUSA, in 2020 had about 280 employees and revenues of $66.5 million.
ParkUSA develops, manufactures and distributes water, wastewater and environmental infrastructure products. It was founded by the Eberly family in Houston in 1984, and has manufacturing facilities in Houston, San Antonio and Ferris, Texas. The key executives for Houston-based ParkUSA will remain in place after the sale closes.
“This acquisition significantly expands our product offerings within the water infrastructure market,” Northwest Pipe stated on Tuesday. “By broadening our ability to deliver stormwater and wastewater management technology as well as expanding our precast concrete capabilities, we are strategically growing our firm to serve our municipal, industrial, and private clients.”
The acquisition is Northwest Pipe’s third in about three years; in 2018, it bought Ameron Water Transmission Group and last year it bought Geneva Pipe and Precast Company.
Northwest Pipe was founded in 1966, and as of last year had 956 employees. It’s headquartered at 201 N.E. Park Plaza Drive. According to its website, it is the largest manufacturer of engineered steel water pipe systems in North America.
Scott Montross, president and CEO of Northwest Pipe, said in a news release that the company “will be focused on bringing the production of ParkUSA’s products to our historic facilities.”
Northwest Pipe, which trades on the Nasdaq exchange under the symbol NWPX, closed its stock price on Wednesday, up 4.29 percent at $25.54 per share.