IPS Corp. Acquires Truebro
The purchase price of the acquisition, which was effective Dec. 3, was not disclosed.
IPS, with locations in Collierville, Tenn., and Compton, Calif., will sell and market Truebro's products under the Truebro name, including Lav-Guard undersink protective pipe covers, Lav-Shield lavatory enclosures and Basin-Guard undersink enclosures designed to cover plumbing and mechanical connections under ADA-compliant kitchen sinks and restroom lavatories where countertops and sidewalls are present.
The Truebro plant in Ellington, Conn., will continue to manufacture these products for IPS Corp., and nothing will change in terms of the plant's employees, according to Ernie Mannerino, president/COO for the Plumbing Group at IPS Corp.
"They will continue to manufacture the Lav-Guard product through a supply agreement with IPS Corp.," Mannerino said. "Truebro is now an IPS brand."
IPS, which has been involved primarily in the residential plumbing market, had been seeking entry into the commercial plumbing business.
"The acquisition is a good fit from that perspective," Mannerino said. "For IPS, the acquisition gives us an avenue to expand. We now have a structure in place that will allow us to acquire other like-commercial companies, perhaps under the Truebro umbrella."
Before joining IPS six years ago, Mannerino worked for NIBCO and Mueller.
At the same time, Truebro's management had been looking for a buyer with widespread plumbing distribution that could take sales and marketing of its products to the next level.
"We like the fact that IPS will maintain our rep force and our name brand will continue to grow," said Tom Trueb, vice president of Truebro. "We look forward to a long-term relationship with IPS on the supply side. We will be their manufacturing partners."
Truebro has focused its engineering efforts and product development on professional products designed for ADA undersink accessibility since 1990.
IPS Corp. has been in business more than 50 years. Its products include Weld-On(r) solvent cements, primers and adhesives for joining plastic pipe and fittings; Weld-On industrial adhesives and solvent cements for joining plastic to plastic or plastic to dissimilar materials; and Water-Tite plastic plumbing and roofing products for use in new construction and in the service and repair industry.
For more information, visit www.ipscorp.com.