Charlotte Pipe and Foundry Co. has acquired Neenah Enterprises Inc. for an undisclosed price, according to a company announcement. The terms of the transaction were not detailed. The combination of the two businesses will form a wide-ranging network of production and distribution for iron castings for construction and infrastructure projects.
"This acquisition in an adjacent sector builds on our core competency in the manufacturing of gray iron castings,” stated Charlotte Pipe CEO Hooper Hardison. “We believe that Charlotte Pipe's financial strength and manufacturing expertise will strengthen Neenah's portfolio."
Privately held Charlotte Pipe is a ferrous foundry operation casting soil pipe and fittings for drainage, waste, and vent applications. It also produces commercial castings, including parts for motors, generators, pumps, compressors, valves, hydraulic systems, and industrial machinery. It also produces plastic pipe and fittings.
The group also produces “drain, waste, and vent” (DWV) pipe products in PVC, ABS, and CPVC thermoplastics at plants in Alabama, Florida, North Carolina, Pennsylvania, Texas, and Utah.
Charlotte Pipe is completing construction of a $325-million greenfield foundry in Oakboro, NC, about 30 miles east of its longtime location in Charlotte. That plant is scheduled to start in Q3 2022.
Neenah Enterprises is the holding company for Neenah Foundry, Neenah, WI; Deeter Foundry, Lincoln, NE; and Reliance Foundry, Vancouver. In late 2021, Neenah acquired some former U.S. Foundry & Manufacturing assets in Medley, FL.
The Neenah portfolio of iron castings are focused on a range of other construction market applications, including manhole and hatch covers, bridges, landscaping, power generating and transmission systems, and a variety of infrastructure and industrial purposes.