Plastic pipe producer Aliaxis (Brussels; www.aliaxis.com) signed an agreement to buy gasketed fittings maker Harco (Lynchburg, Virginia, USA; www.harcoindustries.com) in a deal aimed at broadening its product portfolio and US presence. The transaction is subject to regulatory approval, and financial details of the deal have not been disclosed.

Aliaxis said the purchase is part of its “Growth with Purpose” strategy, unveiled in October 2021, to boost revenues and profits through organic growth and acquisitions. The deal also comes after it completed an EUR 1.6 bn refinancing in the same month to partly fund potential future acquisitions.

Harco, with 55 years of industry experience, reported revenues of USD 75 mn (EUR 65 mn) in 2021, and has clients from the municipal, irrigation, and agriculture end markets. Harco will be part of Ipex (Oakville, Ontario, Canada; www.ipexna.com), Aliaxis’ leading brand in the region.

The Belgian pipe producer has offices on all continents, employs more than 14,000 people worldwide, and reported sales of EUR 2.9 bn in 2020. In North America, the company is already present in the states of California, Colorado, Idaho, Kansas, Kentucky, Michigan, North Carolina, Texas, and Utah through Ipex.