Wynnchurch Capital (”Wynnchurch”) and the Comvest Group (“Comvest”), leading middle-market private equity firms, announced today that their newly formed portfolio company, USP Holdings Inc., has acquired substantially all of the assets of United States Pipe and Foundry Company, LLC and Fast Fabricators, LLC (together “U.S. Pipe” or the “Company”). Based in Birmingham, Alabama, U.S. Pipe is a leading manufacturer of a broad line of ductile iron pipe products, fittings and joint restraints used in drinking water and wastewater systems. Prior to the acquisition, U.S. Pipe was a subsidiary of Mueller Water Products, Inc. (NYSE:MWA).

Paul Ciolino, CEO of U.S. Pipe, said “We look forward to working with Wynnchurch and Comvest and to providing our customers with market leading products and service. With Wynnchurch and Comvest’s support, we will continue to build on U.S. Pipe’s position as the leading supplier of ductile iron pipe and fabricated products to the waterworks industry.”

Terry Theodore, a Partner with Wynnchurch, said, “U.S. Pipe is a market leader in its industry and has a well-deserved reputation for quality, service and innovation. We look forward to partnering with Paul Ciolino and the U.S. Pipe management team in continuing this strong tradition.” Chris O’Brien, a Managing Director with Wynnchurch, added, “U.S. Pipe is a critical supplier to the water infrastructure market which is in great need of investment and repair. We look forward to supporting Paul and his team as they continue to provide world-class service to key distributors, builders and municipalities in this important market.”

John Caple, a Managing Director with Comvest, said, “We are excited about the opportunities for U.S. Pipe, and we believe that Paul and his team are well positioned to continue the Company’s tradition of excellent service.”

Senior debt financing for the transaction was provided by Wells Fargo Capital Finance, LLC, part of Wells Fargo & Company (NYSE: WFC), as Administrative Agent, Lead Arranger and Sole Book Runner, and Regions Business Capital (“RBC”), a division of Regions Bank, part of Regions Financial Corp. (NYSE: RF). Morgan Joseph TriArtisan LLC served as financial advisor to Wynnchurch Capital. In addition, Foley & Lardner LLP acted as legal counsel to Wynnchurch and Akerman Senterfitt LLP acted as legal counsel to Comvest.

About Wynnchurch Capital, Ltd.:
Wynnchurch Capital, Ltd., headquartered in the Chicago suburb of Rosemont, Illinois with offices in Dallas, Detroit, and Toronto and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. More information about Wynnchurch Capital can be found at: www.wynnchurch.com.

About Comvest:
The Comvest Group is a leading private investment firm focused on providing equity and debt capital to lower-middle market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 2000, Comvest has invested more than $1.4 billion of capital in over 100 public and private companies.