Northwest Pipe Co. of Vancouver, Washington, has acquired Geneva Pipe Co. Inc., a concrete pipe and precast concrete products manufacturer based in Orem. The transaction closed on Jan. 31 and was funded with cash on hand and debt, Northwest said in a release.
Geneva was founded in 1956 and employs around 140 people in its Utah operations. In 2019, the company had approximately $43 million in revenues.
Northwest Pipe said the purchase of Geneva will give the company additional capabilities in water infrastructure products by adding reinforced concrete pipe capacity and a full line of precast concrete products, including storm drains and manholes, catch basins, vaults and curb inlets as well as Geneva’s products that extend the life of concrete pipe and manholes for sewer applications.
Operations will continue with their current management and workforce at Geneva’s three Utah manufacturing facilities located in Salt Lake City, Orem and St. George.
“The acquisition of Geneva, which we expect to be immediately accretive to our financial results, is a significant step in the continuous growth of our company in serving a wider spectrum of the water infrastructure market. By expanding into storm water and wastewater manufacturing, we are strategically growing our firm,” said Scott Montross, president and CEO of Northwest. “This transaction creates a stronger company while expanding our product offering to meet the robust demand created by our country’s aging infrastructure.”
Founded in 1966, Northwest is the largest manufacturer of engineered steel water pipeline systems in North America. The company produces engineered steel water pipe; bar-wrapped concrete cylinder pipe; and steel casings, as well as various linings, coatings and joints. It has manufacturing facilities across North America.