IPR Inliner Acquisition

IPR Completes Granite Inliner Acquisition

Inland Pipe Rehabilitation (IPR), a portfolio company of investment affiliates of J.F. Lehman & Company (JFLCO), announced March 16, that it completed the acquisition of Granite Inliner and affiliated companies from Granite Construction Inc.

First announced on Feb. 3, the acquisition enhances IPR’s capabilities and service solutions, while significantly expanding its presence throughout North America.

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RELATED: IPR Acquiring Inliner from Granite Construction

“The acquisition of Inliner is a critical milestone in our strategy to create the leading player in the trenchless pipe rehabilitation industry,” said Glenn Shor, chairman of IPR and partner at JFLCO. “IPR now has the scale to play an even bigger role in the vital and timely work of repairing our nation’s aging infrastructure.”

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Inliner is a leading, vertically-integrated provider of trenchless pipe rehabilitation solutions addressing wastewater and stormwater infrastructure. Inliner has established an exceptional reputation as a leader in heat-cured and UV-based cured-in-place pipe solutions (CIPP), geopolymer rehabilitation, manhole renewal and construction management services, supporting municipal and private customers across the United States and Canada.

RELATED: Inland Pipe Rehabilitation Acquires Murphy Pipeline Contractors

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Inliner’s flagship Inliner Cured-In-Place Pipe and glass-reinforced Inliner STX UV-cured liners provide a broad range of trenchless gravity and pressure pipeline rehabilitation solutions. The approach reduces disruption to the public and the environment and enables project time and cost efficiencies compared to traditional excavation. Inliner’s services are augmented and supported by market-leading CIPP liner manufacturing and R&D capabilities.

“We are thrilled to welcome Inliner employees into the IPR family. This is the beginning of a new and exciting chapter for our combined company,” said Mick Fegan, IPR’s CEO. “The addition of Inliner enhances an already-robust suite of products and technologies, and positions us to deliver best-in-class services to our customers.”

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Like Inliner, IPR provides minimally-disruptive, cost-effective pipe rehabilitation solutions for municipal customers that own and manage underground municipal waste, stormwater, and potable water pipe infrastructure. The company is headquartered in Conyers, Georgia, with operating locations throughout the Eastern United States.

“In IPR, we have found a strong partner focused on and committed to the rehabilitation industry. This will allow the combined entity to further diversify and expand its service offerings as well as grow into new territories,” said Denise McClanahan, vice president of Inliner. “These companies complement each other in all key respects. The capabilities and service offerings we can now extend to our customers and the communities we serve is unmatched in the industry.”

Jones Day provided legal counsel and Houlihan Lokey served as exclusive financial advisor to IPR and JFLCO. Perella Weinberg Partners served as exclusive financial advisor and Shearman & Sterling LLP provided legal counsel to Granite. Atlantic Park Strategic Capital Fund, L.P provided financing for the transaction, and Monroe Capital, LLC remains administrative agent to IPR’s senior credit facility.

SOURCE – Inland Pipe Rehabilitation