True North Advises ProVent Systems in Sale of Assets
Assets of ProVent Systems acquired by Watertite Products, Inc.
April 4, 2024 - IPS Corporation announced the acquisition of the assets of Georgia-based ProVent Systems via its subsidiary, Watertite Products, Inc. Acquired with the transaction were ProVent Systems' product lines, including ProVent Single Stack™ Drain, Waste, and Vent products, ProSet fire rated penetration products, and TrapGuard drain seal devices.
ProVent began with the mission to create and deliver innovative sleeving products and methods of pipe fabrication for the mechanical and electrical trades. All products were developed by founder Ken Cornwall, a mechanical contractor of over 20 years, who knew there had to be a better way to connect piping passing through concrete floors.
The Company went on to create and manufacturer a new PVC single stack DWV system that would cost less, be easier to handle and install, and last for many more years than similar cast iron systems. Today, ProVent is known for their innovative PVC products within the commercial construction market.
IPS Corporation, established in 1954 as the original inventor of solvent cement for PVC pipe applications, has grown dramatically over the past 60+ years. Today, the company is a trusted manufacturer of rough plumbing and roofing supplies for the construction industry, as well as structural adhesives and solvent cements for a broad range of construction, industrial, and manufacturing applications. Leading brands include AB&A®, Arjay™, Christy’s™, Floodstop™, Guy Gray®, Integra®, Moo Gloo®, Roof Top Blox™, SciGrip®, Studor®, Test-Tite®, Tough Pans™, TruBro®, Water-Tite®, and Weld-On®. Headquartered in California, IPS Corporation has operations throughout the United States, Europe, and Asia.
True North Strategic Advisors provided advisory services to ProVent Systems in this transaction.
Ken Cornwall commented, “True North provided excellent service and skill on a very complicated transaction. We were fortunate to have True North by our side throughout the transaction.”
