One Equity Partners buys EPIC Piping to bet on energy, data center buildout

What's the deal? One Equity PartnersDealroom has a profile for this one. Try Dealroom → (OEP), a middle market private equity firm, has agreed to acquire United WELD Holdings, the parent of pipe fabricator EPIC PipingDealroom has a profile for this one. Try Dealroom → and BendTec. Financial terms of the private transaction were not disclosed.

What each side does: Founded in 2014 and based in Baton Rouge, Louisiana, EPIC makes customized, engineered piping systems for industrial, power, LNG, nuclear, and data center projects. It runs fabrication facilities across the US and the Middle East and employs about 2,000 people.

OEP, founded in 2001, spun out of JP Morgan in 2015 and focuses on industrial, healthcare, and technology deals in North America and Europe. It has completed more than 500 transactions.

Why now? OEP is betting on sustained infrastructure and energy spending. Partner Ante Kusurin said pipe fabrication has "shifted from being predominantly field-based to in-house due to labor advantages," and that EPIC has "the required scale, certifications, and execution capabilities to compete for large, complex projects."

What's the endgame? OEP wants to consolidate a fragmented industry and scale EPIC to win more large, complex projects. CEO Remi Bonnecaze called it "a great transaction," backing an investor with "demonstrated industrials expertise."

The signal: Private equity is chasing the physical suppliers behind the energy and data center boom, not just the headline builders. EPIC's LNG, nuclear, and data center exposure makes it a bet on the infrastructure powering the next decade.

Read more: AP News