A global investment firm has acquired the Epic pipe fabrication and distribution facility property in Livingston Parish.
New York-based Fortress Investment Group purchased the 70-acre property through FNLR Pipe Dream LLC from Frost Road Development Company LLC for $43.8 million, according to a deal filed Tuesday with the Livingston Parish Clerk of Court’s office. A majority of Fortress’ equity is owned by a consortium led by Mubadala Capital, a subsidiary of Mubadala Investment Company—one of the sovereign wealth funds of the government of Abu Dhabi.
The Epic facility is located on South Frost Road in the Town of Livingston near Oliver Wheat Road. The company’s corporate office is on Interline Avenue in Baton Rouge.
Remi Bonnecaze, the CEO of United Weld Holdings, represented the seller in the deal. United Weld Holdings is Epic’s parent company. William Turner represented the buyer. Frost Road Development Company bought the land in 2015 from Penn Waters No. 2 LLC for $2.8 million, clerk of court records show.
Epic Piping―a part of Bernhard Capital Partners’ investment portfolio since 2014―provides pre-engineered fabricated piping systems and components used in the power generation, pipeline transmission, offshore/subsea, structural steel, and mining markets.
Fortress has acquired over 2,900 properties representing over $17 billion in aggregate value since 2002.
Take Our Poll
