IOP-backed Union Corrugating Acquires Oakland Metal Buildings

Cornerstone Building Brands Acquires Union Corrugating Company

November 9, 2021

Building Products

Cornerstone Building Brands, the largest North American manufacturer of exterior building products, has entered into and completed the acquisition of Union Corrugating Company Holdings, Inc., a metal roofing and components manufacturer headquartered in Fayetteville, North Carolina. The deal—funded with cash on hand—adds UCC's ~700 employees and roughly $250 million in trailing twelve-month sales to Cornerstone and expands the company's offerings into the high-growth residential metal roofing market while delivering manufacturing scale benefits.

Industrial Opportunity Partners Acquires Midwest Paper

January 8, 2020

Manufacturing

Industrial Opportunity Partners (IOP), an operations-focused private equity firm based in Evanston, Illinois, has acquired Midwest Recycled and Coated Containerboard Mill, LLC ("Midwest Paper"), a paper mill headquartered in Combined Locks, Wisconsin. Terms were not disclosed; the transaction is IOP’s fourth platform investment from its third fund and was financed with senior debt from JP Morgan Chase Bank and Chemical Bank and subordinated debt from Yukon Partners.

Industrial Opportunity Partners Acquires United Poly Systems

June 11, 2019

Manufacturing

Industrial Opportunity Partners (IOP), an Evanston, Illinois-based private equity firm, has acquired United Poly Systems LLC, a manufacturer of made-to-order HDPE pressure and duct/conduit pipe headquartered in Springfield, Missouri. IOP is partnering with the company's founders and management team to expand production capacity and product offerings; terms were not disclosed.

Union Corrugating (backed by Patriot and IOP) Invests in Reed's Metals

March 5, 2019

Building Products

Union Corrugating Company, backed by Patriot Capital Group and Industrial Opportunity Partners (IOP), has made an investment in Reed's Metals. Bernie Reed and Reed's management retain ownership stakes and will remain in leadership; the two businesses will operate as distinct units while collaborating to expand product offerings and leverage the supply base. Patriot provided additional debt financing alongside Regions Bank.

Union Partners I LLC Acquires Contractors Steel Company

May 25, 2018

Industrial Services

Union Partners I LLC has acquired Contractors Steel Company, a Livonia, Michigan-based carbon steel service center with multiple Midwest locations. The acquisition brings Contractors Steel into Union Partners' family of metals and logistics companies to expand capabilities and continue the company's legacy under new leadership.

Union Partners Acquires Berg Steel Corporation

August 5, 2016

Manufacturing

Union Partners I LLC has acquired Berg Steel Corporation, a Royal Oak, Michigan-based processor and distributor of carbon steel coil products. Angle Advisors served as the exclusive investment banking advisor to Berg Steel; the company operates state-of-the-art slitting capabilities and employs approximately 40 people.