Seaside Equity Partners has sold Andersen Commercial Plumbing to Sun Capital Partners
Andersen Commercial Plumbing
Founded in 1993 and headquartered in La Verne, California, Andersen Commercial Plumbing (ACP) is a leading provider of commercial plumbing services across Southern California, including maintenance and repair, tenant improvement and new build solutions. The company’s customer base of more than 9,000 local and national accounts includes commercial office buildings, industrial facilities, educational institutions, healthcare providers and life sciences companies.
Following Seaside Equity Partner’s investment in 2018, management successfully executed on a series of growth initiatives, including scaling ACP’s maintenance and repair division and expanding the company’s footprint across Southern California through multiple successful acquisitions. With Sun Capital as a partner, management is well positioned to further accelerate ACP’s growth, attract and retain talent in a highly competitive environment and become the acquirer of choice across the region.
Luke Webb, Managing Director at Lincoln, commented, “The commercial plumbing sector is highly attractive to investors given aging building infrastructure and the recurring, code compliance driven demand for maintenance and repair services. The industry remains highly fragmented, providing ample opportunity for investors with buy and build expertise to deploy dry powder and accelerate growth into new geographies and end markets.”
The Lincoln team's knowledge of the commercial plumbing industry and mergers and acquisitions expertise resulted in a well-organized process and tremendous outcome for ACP. Partnering with Sun Capital Partners was the clear choice for myself, our talented management team and the company's stakeholders. We are confident that the collective industry expertise, talent and shared values between Sun Capital and ACP will ensure the company prospers in the years to come.
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