Fremont Partners today announced the acquisition, in partnership with management, of IPS Corporation (“IPS” or the “Company”).

IPS, headquartered in Compton, California is a market-leading manufacturer of a wide range of adhesive cements, structural adhesives and niche plumbing products primarily for residential, commercial, industrial and international markets. IPS’s products are sold under a number of highly regarded brand names, including Weld-On, Watertite, Studor, Truebro and Guy Gray.

Mark Williamson, a Managing Partner of Fremont Partners said “We are delighted to be associated with IPS and with its outstanding management team and employees. In partnership with management, we hope to leverage our past successes in the building products industry to create an exciting next chapter in the development of the Company.”

Added Bill Lenihan, Managing Director of Fremont Partners “IPS has a strong history of product leadership, growth and profitability and we look forward to participating in the continued success of this fine organization.”

As is typical of Fremont Partners-led investments, the current management team will participate in the on-going ownership and management of the Company.

“Fremont Partners’ experience in the building products industry, together with their focus on building value operationally, will help us to continue to grow our business while further strengthening our operations,” said Eric Bescoby, CEO of IPS. “As such, this newly formed partnership represents a great outcome for our customers, suppliers and employees.”

Fremont Partners and management acquired IPS from Nautic Partners, which was exclusively represented by Harris Williams & Co.

Fremont Partners, which has managed more than $2 billion of equity investments, invests across a diverse range of industries, including building products, food and consumer products, healthcare, financial services, business services and industrial manufacturing. The firm has previously built two highly successful businesses in the building products industry: Juno Lighting, a leading designer, manufacturer and marketer of lighting fixtures for the commercial and residential markets; and, Tapco International, a leading designer, manufacturer and marketer of building products used in exterior remodeling and new construction. Fremont Partners makes substantial equity investments in operating companies with enterprise values up to $1 billion and seeks to deploy a minimum of $75 million in each transaction. Founded in 1991, Fremont Partners has managed more than $2 billion of equity investments in 22 companies, representing a total transaction value of $5.6 billion.