ACT Capital Advisors is pleased to announce that its client, OnSite PRO, Inc. (“OnSite”) – the exclusive manufacturer and distributor of FloodStop™ products – has been acquired by IPS Corporation, a portfolio company of Centerbridge Partners.
FloodStop™ is a line of point-of-use leak detection devices for residential and light commercial applications. Under IPS’ ownership, FloodStop™ has been integrated into its Diversified Products organization and is currently inventoried in IPS’ master distribution centers.
“FloodStop is the market leader in leak detection and adds another strong brand to the IPS offering,” said Nick Casella, Diversified Products President at IPS. “This acquisition further advances our strategy to bring new and innovative solutions to our customers.”
“We can’t imagine a better fit for the FloodStop line than to be paired with IPS’ product lines and distribution capability,” said Scott and Ruth Ann Walter, owners of OnSite Pro. “Great people on all sides helped get this sale completed, and we couldn’t be happier.”
“It was a privilege to work with Scott and Ruth Ann, and the team at IPS to complete this transaction,” said Michael Seeley, ACT Vice President. “We are very pleased with the outcome and confident that it will prove to be a win for all parties.”
ACT’s Michael Seeley (Vice President), Trevor Hill (Managing Director), and Kevin Outcalt (Managing Director) advised OnSite with respect to the transaction.
About OnSite PRO, Inc.
Founded in 2000, OnSite Pro, Inc. is based in Modjeska Canyon, California. OnSite manufactures and distributes the FloodStop™ family of leak protection and water shut-off products for use with water heaters, washing machines, ice makers, sinks, dishwashers, and other applications. More information at http://www.getfloodstop.com/.
About IPS Corporation
Founded in 1954 and headquartered in Compton, California, IPS Corporation is a leading manufacturer of plumbing and roofing products, solvent cements, and adhesive for residential, commercial, and industrial use. More information at https://ipscorp.com/plumbing/.
About ACT Capital Advisors
ACT Capital Advisors is a premier Mergers & Acquisitions firm representing middle-market companies across all industries. ACT has a 30-year history of deal-making, closing 250+ transactions, and unlocking over $1.5 billion in wealth for its clients. For more information, visit https://actcapitaladvisors.com/.