NEW YORK United
Pipe & Steel Corp. has received an influx of capital from
private equity firm Morgenthaler Private Equity.
"Our goal is to double
the companys revenues over a five-year period through
exciting organic growth initiatives and complementary add-on
acquisitions," Joe Machado, partner at Cleveland-based
Morgenthaler, said in a statement.
David Cohen will retain a "substantial" ownership interest
in Ipswich, Mass.-based United Pipe & Steel, a master
distributor of steel, copper and plastic pipe as well as
conduit used in wastewater, water, irrigation, plumbing,
electrical and infrastructure construction applications.