Prospect Partners partnered with industry veteran Craig Umans and management to acquire Pipp from its founding family in 2005, with Umans becoming CEO. Since then, Pipp has entered new distribution channels through two strategic add-on acquisitions. Following the deal Umans will continue to be a “significant” investor in Pipp and CEO of the company, Prospect said.
“Pipp is a strong performer with a tremendous national reputation and growth potential as it becomes an even larger player in the mobile storage solutions market,” said Erik Maurer, a principal at Prospect Partners.
“Craig Umans typifies the type of outside executive with whom we seek to partner. He is experienced veteran in a well-defined niche market who clearly articulated his vision for how to dramatically grow Pipp. Our partnership has been fulfilling on every level as together we built an outstanding company around Craig’s plan. The results were excellent for all of Pipp’s stakeholders.”
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