Deal Watch: Two water contracts keep Northwest Pipe on course

| Print |  Email
Archives - April 2009
Wednesday, April 01, 2009

Northwest Pipe Company president Brian Dunham says that during past recessions, the firm’s chairman has joked that they should have bought a company plane — if only so they could sell it and cut costs when times were tough.

“But we never bought the damn plane,” says Dunham, who’s been with the Vancouver company since 1990.

Still, Northwest Pipe, which manufactures steel pipe for use in industries like agriculture, energy, construction and municipal water transmission, has girded itself during this current economic crunch by trimming its discretionary costs. It’s also shuttered a plant in Utah and delayed bringing another facility in Louisiana fully online until the market rebounds.

Those steps in part helped Northwest Pipe end 2008 with record revenue and income of $439.7 million and $32.3 million, respectively. And the company is off to a solid start in 2009, with two water transmission contracts in February worth at least $9 million each.

The same month, Northwest Pipe’s majority-owned subsidiary in Singapore, Northwest Pipe Asia, acquired the Scottish company Byard Ltd, which makes spiral pipe mills. Dunham says the acquisition will be helpful in upgrading Northwest’s manufacturing equipment and, thanks to Byard’s “full Rolodex,” drumming up some new international business.

While Dunham says the water transmission side of Northwest Pipe’s business, which is driven by long-term city water projects and population demographics, is looking strong, its tubular business will likely lag in the coming year. That’s because those products — piping for fire sprinklers, irrigation, gas collection and highway signage — are tied much more closely to the immediate economic cycle. President Obama’s stimulus package may help a bit, but it’s still too soon to tell.

As a result, Dunham says Northwest will be playing a little offense in 2009 and a little defense.

“It’s just hard to be too optimistic right now,” he says.

JON BELL

"
MERGERS AND ACQUISITIONS
PRICE EXP. CLOSE BUYER / PARENT (HQ) SELLER / PARENT (HQ) ANNOUNCED
ND Q1 AgSource Cooperative Services (WI) Agri-Check (Umatilla) 2/11
ND Q1 Columbia Machine (Vancouver) Foster Equipment (CA) 2/25
ND Q1 Community Health Systems (TN) McKenzie-Willamette Med. Center/Cascade Health Solutions (Eugene) 2/18
ND Q1 Doug Morland (CO) Three dealerships of Lithia Motors (Medford) 2/18
ND Q1 Groove 11 (CA) Asterix Group (Portland) 2/2
ND Q1 Handmark (KN) FreeRange Communications (Portland) 2/5
ND Q1 HighJump Software (MN) Insight Distribution Software/Coaxis (Portland) 2/4
ND Q1 Imagine Graphics (Eugene) Phot-Oregon (Eugene) 2/16
ND Q1 M&K Acquisitions (Clackamas) Gleukos (Portland) 2/5
ND Q1 NW Pipe Asia Pte./NW Pipe (Vancouver) Byard(Scotland) 2/5
ND Q1 PACE Engineers (Oregon City) Peterson Consulting Engineers (WA) 2/24
ND Q1 Schnitzer Steel (Portland) Ponce Resources (Puerto Rico) 2/4
ND Q2 Visualant (WA) TransTech Systems (Wilsonville) 2/16
ND Q1 Washington Trust Bank (WA) Pinnacle Bank (Beaverton) 2/13


REAL ESTATE TRANSACTIONS
PRICE BUYER / PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) ANNOUNCED
$24.5M Port of Vancouver (WA) 110 acres industrial (Vancouver)/Evergreen Aluminum (Vancouver) 2/10
$5.2M Woodburn Partners (Tigard) 128,600 sq ft industrial (Woodburn)/Universal Forest Products Western Division (MI) 2/11
$4.8M Greg and Dan Piantanida (WA) 48-unit apartment complex (Portland)/Hazelton Las Brisas (CA) 2/23
$3.85M Cooper’s Chase (Beaverton) Bristol Court Apartments (Milwaukie)/Harmony Court II (Portland) 2/16
$3.6M Eric Kasch (Vancouver) King’s Landing Apartments (Corvallis)/Charles Stevens (CA) 2/9
$1M Lair Hill Associates (Portland) Lair Hill Office Building (Portland)/Stan Crawford 2/2
$645,000 St. Vincent de Paul (Eugene) Seven lots (Veneta)/The Guilford Family 2/5
ND Dulcich Realty (Clackamas) 4.5 acres industrial (Clackamas)/Komfort Corp (Clackamas) 2/5
ND Fire Station No. 7 (Portland) 15,400 sq ft office (Portland)/ND 2/26
ND PremierWest Bank/PremierWest Bancorp (Medford) Two bank branches (CA)/Wells Fargo Bank (CA) 2/19


CAPITAL RAISING
PRICE (TYPE) COMPANY (HQ) / LEADERSHIP INVESTOR (HQ) ANNOUNCED
$82.6M (American Recovery and Reinvestment Act funds) State of Oregon U.S. Dept. of Housing and Urban Development 2/25
$41.4M (stock sale via TARP) Premier West Bancorp (Medford)/Jim Ford U.S. Treasury 2/18
$12.6M (loans) Oregon International Port of Coos Bay/Jeffrey Bishop Oregon Economic and Community Development Department 2/3
$9.5M (pipe order) Northwest Pipe (Vancouver)/Brian Dunham Antelope Valley-East Kern Water Agency (TX) 2/3
$9M (pipe order) Northwest Pipe (Vancouver)/Brian Dunham Los Angeles Dept. of Water & Power (CA) 2/5
$7M (venture investment) RNA Networks (Portland)/Clive Cook Menlo Ventures (CA), et al. 2/3
$6.7M (combat boot order) LaCrosse Footwear (Portland)/Joseph Schneider U.S. Army 2/26
$1M (gift) Willamette University/M. Lee Pelton Peter and Bonnie Kremer 2/25
$594,000 (refugee care funds) Medical Teams International (Tigard)/Bas Vanderzalm U.S. State Dept. Bureau of Population, Refugees and Migration 2/12
$100,000 (lottery loan) Port of Astoria/Jack Crider Clatsop County Commission (Astoria) 2/13
$40,000 (biodiesel testing contract) Gorge Analytical (Hood River)/Jeff Fetkenhour City of Portland Bureau of Development Services 2/23
ND (contract for seven helicopters) Carson Helicopters (Grants Pass)/Frank Carson Presidential Airways (NC) 2/19
ND (wind energy contract) Iberdrola Renewables (Portland)/Ralph Currey Snohomish County PUD (WA) 2/4
ND (cargo contracts) Port of Vancouver/Larry Paulson Vestas (Portland) and Siemens Energy (GA) 2/5
ND (waste hauling contract) Walsh Trucking (Troutdale)/William Walsh Metro 2/16

List researched by Jon Bell

Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 

More Articles

Photo Log: The 2015 100 Best Green Workplaces in Oregon

The Latest
Wednesday, May 27, 2015
greenthumbPHOTOS BY JASON E. KAPLAN

Oregon Business celebrated the 100 Best Green Workplaces with an awards luncheon yesterday at the Nines Hotel in downtown Portland.


Read more...

Undersea Power

June 2015
Friday, May 22, 2015
BY JACOB PALMER

Mike Morrow and Mike Delos-Reyes first came up with the idea of an ocean power device 23 years ago, when they were students at Oregon State University. They realized a long-held vision last summer, when their startup, M3 Wave, successfully launched the first ocean power device that works underwater.


Read more...

Frothy Battle

June 2015
Friday, May 22, 2015
BY ROBERT MULLIN

Latest development in Nestlé plant saga sparks debate about the value of water.


Read more...

Stemming the tide of money in politics

Linda Baker
Wednesday, June 10, 2015
 jeff-lang-2012-thumbBY LINDA BAKER

Jeff Lang and his wife Rae used to dole out campaign checks like candy.  “We were like alcoholics,” Lang says. ”We couldn’t just give a little.”


Read more...

5 stats about Oregon fireworks

The Latest
Thursday, June 18, 2015
fireworksthumb001BY JACOB PALMER | DIGITAL NEWS EDITOR

Fireworks are a booming industry, even if the pyrotechnics have turned July 4th into a day fire marshals, and many residents, love to hate.


Read more...

Efficiency Boost

June 2015
Friday, May 22, 2015
BY JOE CORTRIGHT

How conservation stimulates the local economy.


Read more...

Apartment Mania

Guest Blog
Thursday, June 18, 2015
4805983977 11466ce1d6 zBY BRAD HOULE | CFA

While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS