PERMA-PIPE International Holdings, Inc.

What PERMA-PIPE International Holdings, Inc. does

PERMA-PIPE International Holdings, Inc. (NASDAQ: PPIH) is a global engineered pipe services company founded in 1909 and headquartered in The Woodlands, Texas. The company designs, manufactures, and installs pre-insulated piping systems, anti-corrosion coatings, double-containment systems, custom fabrications, and cable-based leak detection (PermAlert) for district energy, oil and gas, petrochemical, power generation, mining, and increasingly AI data center cooling applications. Its proprietary product lines include XTRU-THERM and POLY-THERM (PUR/PIR-insulated HDPE-jacketed systems), MULTI-THERM (aerogel nanotechnology insulation for extreme temperatures up to 750°F), ESCON-A (prefabricated steam and hot water systems), ULTRA-SERIES (fiberglass-clad steel), and PermAlert leak detection. All manufacturing operations are ISO 9001, ISO 14001, and ISO 45001 certified.

The company operates manufacturing facilities and sales offices across 10 countries — including the United States, Canada, Mexico, UAE, Saudi Arabia, Egypt, Qatar, and India — and employs over 600 professionals. Revenue is generated primarily through project-based sales of pre-insulated piping systems (recognized based on project execution milestones) and professional services for anti-corrosion coating application, engineering and technical support, custom fabrication, field service, and logistics. Pricing is quote-based and project-specific, not publicly disclosed, with multi-year contract structures common for district energy and infrastructure projects.

Financially, PERMA-PIPE delivered FY2025 net sales of $210.9 million (up 33% year-over-year) and net income of $17.0 million (up 89%). Q1 2026 net sales were $50.3 million (up 7.5% YoY) with backlog of $136.5 million as of April 30, 2026 (up 12% YoY), driven by AI data center project awards. Approximately 44% of sales originate from UAE and Saudi Arabia combined, with Saudi Aramco direct service approval obtained in 2025. The company completed a review of strategic alternatives in March 2026 and elected to remain independent.

Name

PERMA-PIPE International Holdings, Inc.

Legal name

Perma-Pipe International Holdings Inc.

Website

https://permapipe.com

Company type

Public

Founded year

1909

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PERMA-PIPE International Holdings (NASDAQ: PPIH) is a global engineered pipe services company that designs, manufactures, and installs pre-insulated piping systems, anti-corrosion coatings, containment, custom fabrication, and leak detection for district energy, oil and gas, mining, and AI data center customers across 10 countries.

Ownership category

akta.pro rank

Product category

Engineered Piping Systems

NAICS

Fabricated Pipe and Pipe Fitting Manufacturing (332996), Other Metal Valve and Pipe Fitting Manufacturing (332919), Plastics Pipe and Pipe Fitting Manufacturing (326122)

SIC

Steel Pipe & Tubes (3317), Oil & Gas Field Machinery & Equipment (3533), Gaskets, Packg & Sealg Devices & Rubber & Plastics Hose (3050)

akta.pro primary industry

Pipes & Tubing (Metal, Plastic & Composite) (IMADALAC)

akta.pro secondary industries

Mechanical Piping & Pipefitting (Process/Utility Piping, Supports, Valves) (EUAEAFAD), Pipeline Integrity Management (DIMP/IMP, Risk Modeling & Integrity Planning) (EUAJADAC)

Keywords

• Pre-insulated piping systems
• Anti-corrosion coatings
• Containment pipe systems
• Leak detection systems
• District energy solutions

Headquarters

HQ city

Niles

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Pre-insulated Piping Systems: Sale of prefabricated pre-insulated piping systems including XTRU-THERM, POLY-THERM, MULTI-THERM, and other product lines for district energy, industrial, and mining applications. Revenue recognized from project execution based on project timing and completion stages.
2. Anti-Corrosion Coatings Services: Application of protective coatings including FBE, MRO, ARO, and rubberized asphalt to protect pipelines from external corrosion.
3. Engineering and Technical Services: Value-added services including stress analysis, finite element analysis, pipeline support load calculations, field services, logistics, and project management support.
4. Custom Fabrication: Custom fabrication of complete piping systems, bends, tees, and specialized components for complex project requirements.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

PERMA-PIPE designs, manufactures, and supplies engineered pre-insulated piping systems, anti-corrosion coatings, containment systems, custom fabrications, and PermAlert cable-based leak detection technology. Its products serve district energy/heating & cooling, oil & gas, petrochemical, mining, power generation, and emerging AI-driven data center cooling applications across North America, the Middle East, and India.

Product overview

PERMA-PIPE International Holdings is a global leader in engineered pipe services offering a comprehensive portfolio of pre-insulated piping solutions, containment systems, anti-corrosion coatings, custom fabrication, and leak detection technology. The product portfolio centers on insulation solutions (XTRU-THERM®, POLY-THERM®, MULTI-THERM®, TRACE-THERM™, HI-GARD®, FLOW-THERM™, PVC-THERM™) designed for various temperature ranges from cryogenic to 1200°F applications, combined with containment systems (DOUBLE CONTAINMENT PIPE, ULTRA-SERIES, GALVA-GARD®, ULTRA-THERM®, ESCON-A®, CHIL-GARD®) for underground hazardous fluid transport. The portfolio includes specialized products for district energy, energy and industrial, mining, and subsea applications, supported by custom fabrication capabilities (FABRICATED MANHOLES, ELECTRO-GARD®, SLEEVE-GARD®) and the proprietary PermAlert® cable-based leak detection system. Value-added services include engineering/technical support, field service, and logistics.

Differentiator

Problem solved

Functional benefit

Brands

• XTRU-THERM®: Pre-insulated pipe system featuring thermally efficient polyurethane (PUR) insulation with waterproof HDPE outer jacket for district energy and industrial applications.
• POLY-THERM®
• MULTI-THERM®
• TRACE-THERM™
• HI-GARD®
• FLOW-THERM™
• PVC-THERM™
• GALVA-GARD®
• ULTRA-THERM®
• ESCON-A®
• CHIL-GARD®
• MAR-GARD™
• PermAlert®
• ULTRA-SERIES
• DOUBLE CONTAINMENT PIPE

Products and services

• XTRU-THERM Pre-insulated pipe system featuring thermally efficient polyurethane (PUR) insulation, waterproof HDPE outer jacket, and durable service pipe. Operating temperature range: -320°F (-196°C) to 250°F (121°C). For district energy and industrial applications.
• POLY-THERM Sophisticated pre-insulated pipe system with polyurethane (PUR) or polyisocyanurate (PIR) insulation and durable fiberglass-reinforced polymer (FRP) outer jacket for demanding project requirements.
• MULTI-THERM Advanced pre-insulated pipe system utilizing aerogel nanotechnology insulation for extreme temperatures up to 750°F (399°C), with secondary containment and steel carrier pipe.
• TRACE-THERM Heat management solution for pipelines with single or multiple layers of insulation materials, configured to minimize heat loss up to 1200°F operating temperature.
• HI-GARD Factory pre-insulated pipe system with factory-applied jacketing eliminating on-site insulation work, available with polyurethane foam, calcium silicate, perlite, or aerogel insulation; thermal efficiency from -219°F to high temperatures.
• FLOW-THERM Subsea insulation offering exceptional compressive resistance for flowlines, risers, field joints, PLETs, PLEMs, and inline structures, available in silicone, rubber polymer alloy, and glass syntactic polyurethane.
• PVC-THERM Cost-effective pre-insulated piping system for aboveground and underground applications handling temperatures up to 250°F, ideal for low-budget projects with easy field management.
• GALVA-GARD Standard for protecting subterranean distribution systems combining galvanized steel strength with fiberglass resilience, featuring steel carrier pipe with aerogel insulation and hot-dipped galvanized steel conduit.
• ULTRA-THERM High-performance double-pipe system for secure underground transport of hazardous chemicals, featuring 10-gauge steel clad with filament-wound fiberglass reinforced plastic for maximum corrosion resistance.
• ESCON-A Prefabricated, pre-insulated piping system for delivering low to high-pressure steam and high-temperature hot water, featuring urethane elastomer coating and optional electric/steam heat trace and cathodic protection.
• CHIL-GARD Fully pre-insulated system for reliable underground chilled water distribution featuring PVC service pipe with gasketed bell joint construction and polyurethane foam insulation minimizing heat gain.
• DOUBLE CONTAINMENT PIPE Reliable double-pipe system for preventing leakage of hazardous liquids, consisting of carrier pipe encased in urethane or FRP outer jacket with optional PermAlert cable leak detection system.
• ULTRA-SERIES Family of non-corrosive steel piping systems combining steel strength with fiberglass corrosion resistance, including ULTRA-HT for thermal efficiency, ULTRA-PIPE for chilled water, ULTRA-FS for fuel applications, and ULTRA-IW for corrosive fluids.
• ANTI-CORROSION COATINGS High-temperature resistant anti-corrosion coatings including Fusion Bonded Epoxy (FBE), Moisture Resistant Overcoat (MRO), Abrasion Resistant Overcoat (ARO), and Rubberized Asphalt for pipeline protection. Operating temperature range: -40°F to 140°F.
• FAB-COAT Cost-effective coating solution for internal and external pipe surfaces available in both powder and liquid coating processes, preventing corrosion and extending pipe lifespan.
• FABRICATED MANHOLES Custom-engineered prefabricated steel manholes that are pre-insulated, 100% watertight, and ready to install, reducing installation and lifecycle maintenance costs compared to traditional concrete manholes.
• CUSTOM FABRICATION Complete custom fabrication services delivering fully fabricated systems including custom bends, tees, and entire piping systems tailored to specifications using various welding techniques.
• PermAlert Leak Detection Systems Advanced cable-based leak detection and location system that monitors and detects leaks in containment systems for safer and more sustainable piping operations.
• Engineering and Technical Support Services Value-added services including stress analysis, finite element analysis, manufacturing sketches, pipeline support load calculations, material consulting, and specification guidance throughout the project lifecycle.
• Field Services On-site installation support including materials for field joints, leak detection commissioning, field-applied coatings, and inspection services for superior installations.
• Logistics Services Comprehensive logistics covering transportation, strategic warehousing, and seamless fulfillment and delivery from plant to job site.

Quantifiable outcome

• 33% revenue growth in FY2025 to $210.9 million
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Brugg Pipes (Brugg Group): Brugg Pipes is a Swiss manufacturer of pre-insulated pipe systems for district heating and cooling, oil & gas, and industrial applications — closely comparable to PERMA-PIPE's full product portfolio and serving overlapping customer segments globally.
• Logstor (Kingspan Group): Logstor, a Kingspan-owned pre-insulated pipe manufacturer headquartered in Denmark, is a leading European specialist in district heating and cooling pre-insulated pipe systems — directly comparable to PERMA-PIPE's XTRU-THERM and CHIL-GARD product lines for district energy applications.
• Isoplus: Isoplus is a European manufacturer of pre-insulated piping systems for district heating networks and industrial applications — comparable to PERMA-PIPE's core pre-insulated pipe offerings with similar technology profile.
• Northwest Pipe Company: Northwest Pipe Company manufactures engineered steel pipe products for water infrastructure, energy, and industrial applications. It is comparable to PERMA-PIPE's fabricated pipe and steel carrier pipe business, particularly in North American water and energy markets.
• Thermacor Process Systems: Thermacor is a U.S.-based manufacturer of pre-insulated piping systems for district heating and cooling, serving municipal and industrial customers — directly comparable to PERMA-PIPE's North American district energy business.
• Shawcor (now Mattr Corp): Mattr Corp (formerly Shawcor) provides pipeline coating, pre-insulated piping, and field services for oil & gas and industrial customers globally — directly comparable to PERMA-PIPE's anti-corrosion coatings and pre-insulated pipe business across similar end markets and project types.

Broad incumbents

• Tenaris: Tenaris is one of the world's largest manufacturers of steel pipes for oil & gas and industrial applications. While primarily a steel pipe producer rather than pre-insulation specialist, it competes with PERMA-PIPE for upstream/midstream energy infrastructure pipe contracts globally.
• Atkore Inc. Atkore manufactures electrical conduit, pipe, and cable products serving construction and industrial markets. While more focused on electrical infrastructure than insulated process piping, it overlaps with PERMA-PIPE in industrial pipe products for construction applications.
• NOV Inc. NOV Inc. (National Oilwell Varco) provides oilfield equipment, pipes, and coatings for upstream oil & gas — broadly comparable to PERMA-PIPE's oil & gas segment in terms of customer base (operators, EPC contractors) and energy infrastructure market exposure.
• Vallourec: Vallourec is a leading global supplier of premium seamless steel pipe solutions for energy and industrial markets. As a large incumbent in steel pipe manufacturing, it competes for major energy and industrial pipe projects where PERMA-PIPE also bids.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/perma-pipe

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PERMA-PIPE International Holdings, Inc.