Leading Composite Repair Manufacturer Expands Suite of Rehabilitation Products for Critical Infrastructure
Houston, TX – ClockSpring|NRI, a leading manufacturer of highly innovative and engineered products for the global repair and rehabilitation of critical infrastructure, today acquired Milliken Infrastructure Solutions, a division of Milliken & Company, expanding its line of superior composite solutions for industrial process and transmission pipelines and adding new, pioneering technologies for water and wastewater infrastructure restoration.
“This acquisition expands ClockSpring|NRI’s ability to address complex integrity issues,” says ClockSpring|NRI CEO Matthew Boucher. “Our combined engineering expertise and complementary product lines enable us to offer the most comprehensive suite of products and services for the safe and sustainable construction, repair, and maintenance of critical infrastructure.”
With this acquisition, the ClockSpring|NRI solutions portfolio now includes GeoSpray™, a high-performance spray-on geopolymer mortar lining that provides trenchless pipe rehabilitation and structural strengthening for sewer, water, and wastewater lines; Concrete Cloth, the ‘concrete on a roll’ flexible concrete-impregnated fabric designed for berm and secondary containment and erosion control; the Atlas™ carbon fiber system for pipeline repairs that require strain reduction due to dynamic loading conditions; and the RenewWrap™ FRP strengthening systems for civil repair applications, as well as other complementary repair technologies.
Atlas™ and RenewWrap™ are among the products that will be integrated into the ClockSpring|NRI Composites Division. ClockSpring|NRI will create a new Concrete Solutions Division led by John Hepfinger, who previously served as Global Market Director for Milliken Infrastructure Solutions and brings nearly 30 years of experience to his new role. John will report directly to CEO Matthew Boucher as a member of the ClockSpring|NRI leadership team.
“Milliken Infrastructure Solutions has grown tremendously over the last few years as customers have increasingly adopted these differentiated products that solve relevant infrastructure rehabilitation challenges,” commented Alex Kim, Executive Vice President of corporate strategy and development for Milliken & Company. “With their global scale and focus on infrastructure, we believe that ClockSpring|NRI will be able to accelerate the growth and achieve the full potential of this business.”
ClockSpring|NRI’s financial sponsor, Wind Point Partners, was instrumental in helping to complete the deal. Wind Point is an active investor in industrial products and services with relevant investments including Kleinfelder (a multi-disciplinary engineering firm with significant experience in critical infrastructure) and Interface Performance Materials (a manufacturer of fiber-reinforced and composite products).
Wind Point Partners Managing Director Alex Washington notes, “This add-on acquisition enhances the scale and breadth of ClockSpring|NRI’s comprehensive portfolio and highlights the capabilities we bring to portfolio companies through our ability to help them complete value accretive acquisitions.”
Clock Spring|NRI additionally was advised by Kirkland & Ellis and KPMG. Jones Day supported Milliken & Company during the transaction process.
ClockSpring|NRI is a Houston-based manufacturer and provider of high-performance critical infrastructure construction and repair products and associated engineering support and training services. Clockspring|NRI solutions are used to construct, maintain, and rehabilitate pipelines, natural gas distribution lines, high-consequence industrial pipework, and civil structures. ClockSpring|NRI composite pipe repair systems and inline insertion valves are used in more than 75 countries and include industry-leading products such as Clock Spring™, Atlas™, Syntho-Glass® XT, Scar-Guard®, Contour, and DiamondWrap®composite products, as well as the award-winning AVT EZ Valve™ for water and gas lines. All ClockSpring|NRI products are easy to install, cost-effective to deploy, and durable for decades. www.cs-nri.com
Milliken has been solving everyday problems with innovative solutions for more than 150 years. Our research, design and manufacturing expertise reaches across a breadth of disciplines including specialty chemicals, floor covering, and performance and protective textiles. An unwavering commitment to ethics guides our work to redefine how we add strength and protection to products, how we infuse vibrancy and color into our surroundings, and how we care for the environment. For us, success is when discoveries made within Milliken help us all have more meaningful connections with the world. Discover Milliken at www.milliken.com.
About Wind Point Partners
Wind Point Partners is a leading Chicago-based private equity investment firm with over $2.3 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners VIII, a $985 million fund that was initiated in 2016. For more information, please visit www.windpointpartners.com.