Dunes Point Capital, LP has sold Professional Plumbing Group to Marcone, a portfolio company of Genstar Capital

Professional Plumbing Group

Headquartered in Concordville, Pennsylvania, Professional Plumbing Group (PPG) designs, manufactures, markets and distributes high-quality plumbing products for repair and remodel applications. PPG distributes two proprietary brands: Wolverine Brass and Speakman, with more than 125 years of experience as well as third-party products. The company sells more than 20,000 stock keeping units (SKUs) to over 10,000 customers through four channels: direct-to-trade, commercial, e-commerce and retail. PPG has nearly 300 employees, two distribution centers and relationships with well-known plumbing products manufacturers and suppliers. For more information, please visit www.ppg-inc.com.

The Deal

The acquisition of PPG will allow Marcone, a leading residential appliance parts distributor and portfolio company of Genstar Capital, to horizontally integrate and expand its product expertise and offering into the plumbing industry. Marcone is excited to add PPG’s well known, trusted brands to its portfolio and benefit from the increased spending on plumbing products from consumers, technicians and larger strategic accounts.

Our Perspective

Brad Keyworth, Managing Director in Lincoln’s Business Services Group, who leads the firm’s distribution sector coverage, commented on the transaction and current market dynamics; “PPG has established a strong presence in the highly attractive repair and remodel segment of the $46 billion plumbing products industry, providing the company with a significant, resilient addressable market. PPG differentiates itself through its unique product portfolio, combining valuable proprietary and third-party brands, comprehensive market coverage through a multi-channel strategy and asset-light business model with extensive distribution capabilities. PPG makes a compelling add-on to Marcone, especially as Marcone expands its own platform from appliance parts into other product categories, including plumbing products.”

Dunes Point Capital, LP

Dunes Point Capital, LP (DPC) is a family office and private investment firm, pursuing control investments in companies operating in the general industrial and business services sectors. DPC targets companies with enterprise values of up to $1 billion. For more information, please visit www.dunespointcapital.com.

Marcone

Marcone is an authorized appliance parts distributor for major brands, such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, L-G and many more. Through its distribution network, Marcone supplies one of the largest inventories of original replacement parts in the country for household appliances, including refrigerators, ranges, dishwashers, microwaves, washers and dryers. Headquartered in St. Louis, Missouri, Marcone operates through 12 regional distribution centers and nearly 50 retail centers, and distributes products to more than 120 countries worldwide. For more information, please visit www.marcone.com.

Genstar Capital

Genstar is a private equity firm headquartered in San Francisco, California. Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry leading businesses. The firm currently has approximately $33 billion of assets under management and seeks investments focused on targeted segments of the financial services, industrials, healthcare and software industries. For more information, please visit www.gencap.com.

Share: