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“The NEC leadership team is very excited for Valesco’s investment in our Company. NEC has bold growth aspirations, and we feel the Valesco team is a perfect partner for this stage of our growth.”
Steve Osborne – Founder & CEO
OPERATIONS TEAM:
Bud Moore| Mark Jungmann
Nipples, Elbows & Couplings, Inc. (“NEC”) is a leading manufacturer of PVC-coated electrical conduit and fittings for infrastructure projects including wastewater, midstream energy, and datacenter end-markets. NEC’s proprietary “BlackGuard” coating protects critical infrastructure in corrosive environments, with the Company establishing its premium brand on product reliability, competitive lead-times, and customer service.
Valesco completed a control recapitalization of the Founder, partnering with management and our investment partners, Hidden River Strategic Capital (“Hidden River”) and GMB Capital Partners (“GMB”) to continue NEC’s legacy and capitalize on the Company’s long-standing reputation, favorable industry tailwinds, and growth opportunities. Subordinated debt was provided by Valesco, Hidden River, and GMB, and a senior term loan & revolver were provided by a senior lender who is also an investor in Valesco Fund III. Crutchfield Capital acted as exclusive financial advisor to NEC.