HeatLink Companies Acquired by Mueller Industries
Jun 6, 2017
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CALGARY, June 6, 2017 /PRNewswire/ - HeatLink's ownership and management team are pleased to announce that HeatLink Group Inc., and its affiliated PEX-a tubing manufacturing facility PexCor Manufacturing Company Inc., have been acquired by Mueller Industries Inc. [NYSE: MLI]. Co-owners Manfred and Garry Schmidt will continue to lead the Company with the goal of growing the company's product platform and geographical footprint. HeatLink and PexCor will complement the wide range of products that comprise the Piping Systems Group of Mueller Industries. The acquisition of HeatLink supports Mueller's strategy to expand in the pressure plastic products arena with innovative piping and flow control solutions. Mueller Industries is a publicly traded manufacturer headquartered in Memphis Tennessee that began operating in 1917 and has operations across the USA, Canada, Great Britain, Mexico, South Korea, and China. "This is a unique opportunity to partner with an organization that has a similar family based history, and a record of successfully integrating acquisitions in a manner that leverages the capabilities of both parties over a long period of time", says Manfred Schmidt, president HeatLink Group. "We can now accelerate our plan to introduce new HeatLink products, expand our proprietary PEX-a production, and access a range of new markets with quality solutions incorporating both HeatLink and Mueller products." HeatLink Group Inc. is a leading supplier of PEX-a plumbing, potable water systems, and radiant heating and cooling systems for the residential and commercial building markets across North America. As a fully integrated plumbing and heating manufacturing company, we offer a complete system approach. Our international reputation has been built on more than 25 years of experience, innovation and industry leadership. Statement from Mueller Industries
Mueller Industries, Inc. is pleased to announce the acquisition of PexCor and HeatLink Companies, effective May 31, 2017. The Calgary, Canada based companies produce and sell a complete line of products for PEX plumbing and radiant systems. We are especially pleased to advise that co-owners Manfred and Garry Schmidt will continue to lead the company and to pursue the expansion of PexCor/HeatLink systems both technically and geographically. This acquisition supports Mueller's strategic plan to grow and strengthen our flow control product offering in the area of pressure plastics. SOURCE HeatLink Group Inc.