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United Pipe & Steel gets influx of capital

Keywords: Tags  United Pipe & Steel, Morgenthaler Private Equity, Joe Machado, David Cohen, steel pipe, copper pipe

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 company’s 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.

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