Centerbridge Partners-backed IPS to acquire FloodStop from OnSite PRO.

Centerbridge Partners-backed IPS, a manufacturer of plumbing and roofing products, agreed to acquire FloodStop, a line of point-of-use leak detection devices, from OnSite PRO, a manufacturer and distributor of leak detection and water shut-off products. Financial terms were not disclosed. “FloodStop is the market leader in leak detection and adds another strong brand to the IPS offering. This distribution deal further advances our strategy to bring new and innovative solutions to our customers," Nick Cassella, IPS Division President.