Morgenthaler Private Equity announced Tuesday the recent recapitalization of Ipswich, Massachusetts-based United Pipe & Steel Corp. an independent master distributor of steel, copper and plastic pipe as well as conduit used in water/wastewater, irrigation, plumbing, electrical and infrastructure construction applications. UP&S Founder and Owner, David Cohen, will retain a substantial ownership interest. President and CEO Greg Leidner will continue to lead the company.
Greg Leidner, President and CEO, said, "MPE's experience with founder- and family-owned businesses, as well as their unique combination of strategic, financial and operating perspective, make them a solid partner for UP&S. This partnership will allow UP&S to better serve both our wholesale distributor customers and our manufacturing partners by accelerating our geographic expansion nationwide while adding complementary product lines."