Plasson USA Has Been Acquired by ISCO

HOUSTON, January 26, 2022 – GulfStar Group (“GulfStar”) is pleased to announce the divestiture of the manufacturing operations of Industrial Pipe Fittings LLC d/b/a Plasson USA (“Plasson” or the “Company”), to ISCO Industries, Inc. (“ISCO”). The transaction involves the majority of the U.S. business of Israeli parent company Plasson Ltd. GulfStar served as the exclusive financial advisor to Plasson throughout the transaction, which closed on December 31, 2021.

Plasson USA is a full line manufacturer of high-density polyethylene (HDPE) pressure pipe fittings from ½” to 65″ diameter and pressures up to 320 pound-force per square inch, and lower-pressure HDPE pipe up to 120″ in diameter under its Spirolite™ brand. The Company’s customers are distributors to industry, municipalities and commercial enterprises across North America. Following the acquisition, former parent company Plasson Ltd. will retain its core business distributing HDPE Electrofusion products throughout North America.

“We greatly appreciate the effort and expertise that GulfStar contributed to the process, and in getting us to a positive outcome,” said Gal Wexsler, chief executive officer of Plasson Ltd. “This was a complex situation with a number of moving parts, and the GulfStar team kept everyone consistently on task.”

Since 1962, ISCO Industries, a global customized total piping solutions provider headquartered in Louisville, KY, has stocked and sold a wide variety of HDPE pipe and piping materials. ISCO offers custom piping fabrication to provide solutions for multiple applications including industrial, municipal, power, oil and gas, mining, environmental, geothermal, golf facilities, culvert lining and landfill. The company also rents, services and sells related equipment. ISCO operates more than 30 facilities across North America.

“GulfStar thanks Plasson for the opportunity to work with the Company on this assignment,” said Bryan Frederickson, managing director of GulfStar. “The management teams at both the domestic and parent company levels were excellent to work with and greatly facilitated getting to a successful closing. We also want to recognize the professionalism and efficiency of the ISCO team, which were essential in achieving our client’s objective of completing the sale by year-end.”

The GulfStar team was led by Managing Director Bryan Frederickson with support from Vice President Alex Pette, Associate Jay Lee and Analyst Luis Barrera.

About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed approximately 750 transactions in 36 states and 16 foreign countries across a variety of industries.