EASTON, PA. — Victaulic Co. and NIBCO announced in mid-October that Victaulic has acquired full ownership of NVent, a joint venture of the two companies based in Allentown, Pa.
Under terms of the agreement, all manufacturing, sales, marketing and distribution efforts will now reside with Victaulic. NIBCO will continue to support the business by supplying component parts to NVent used in the manufacture of PermaLynx, a push-toconnect joining system for copper piping named Best of Show in the Plumbing and Piping category at the 2004 ISH North America trade show.
"We have strong confidence in the PermaLynx product and in the market potential for small diameter mechanical joining systems," Victaulic CEO John Malloy said.
"Both Victaulic and NIBCO concluded this business opportunity could best be pursued by one of our two companies.," he said. "Our acquisition of NVent is an evolution of the original mission of the joint venture to develop innovative small diameter piping solutions. We look forward to working with NIBCO as we pursue this opportunity."