Centerbridge Partners Acquires IPS Corporation from Cypress Performance Group
October 4, 2021
Centerbridge Partners, through funds it advises, agreed to acquire IPS Corporation from Cypress Performance Group; the transaction closed in October 2021. IPS, a Compton, California–based manufacturer of solvent cements, plumbing and roofing products and structural adhesives (brands include Weld‑On, Christy's, Water‑Tite and Scigrip), will continue to be led by George Moore (Executive Chairman) and Dan St. Martin (CEO), with several Cypress shareholders remaining as investors alongside Centerbridge.
- Buyers
- Centerbridge Partners, L.P.
- Targets
- IPS Corporation
- Sellers
- Cypress Performance Group, LLC
- Industry
- Building Products
- Location
- California, United States
- Transaction Type
- Buyout
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