Peltram Plumbing Holdings, which is backed by Crescendo Capital Partners, has acquired Mint Hill, North Carolina-based E.R. Plumbing Services, a provider of plumbing service and maintenance to residential and commercial customers. No financial terms were disclosed.
PRESS RELEASE
Peltram Plumbing Holdings (“Peltram”), through its operating company Precision Plumbing and Service (“Precision”), announced the acquisition of E.R. Plumbing Services (“ER Plumbing”), a Charlotte-based provider of plumbing service and maintenance to residential and commercial customers. Peltram is a portfolio company of Crescendo Capital Partners (“Crescendo”).
Founded in 1997 and based in Mint Hill, NC, ER Plumbing provides a comprehensive range of plumbing services to homeowners, property managers and commercial customers across the Charlotte metro area.
Dave Parker, President of ER Plumbing, added “Precision is the preeminent plumbing company in the Charlotte area. Knowing Justin and Precision as well as we do, we are confident that we have found partners who share our values, culture and approach to business. The combination of Precision and ER Plumbing will make for a stronger company in the future than exists today and I look forward to the next stage of growth.”
“The acquisition of ER Plumbing is a continuation of Peltram’s growth strategy: acquire the dominant plumbing company in the top geographies in the US, then grow service organically and through complementary acquisitions,” noted Mike MacRitchie, Crescendo Partner. “Acquiring ER Plumbing will help to accelerate service growth in the Charlotte region.”
Overview of E.R. Plumbing
Founded in 1997 and based in Mint Hill, NC, ER Plumbing provides a comprehensive range of plumbing services to homeowners, property managers and commercial customers across the Charlotte metro area.
Overview of Precision and Peltram
Founded in 1981 and based in Matthews, NC, Precision provides a vast array of plumbing services including maintenance, construction, rehab, upfit, and installation for commercial customers. Precision is an operating company of Peltram, a multi-geography plumbing-focused mechanical contractor based in Auburn, WA.
Overview of Crescendo
Crescendo invests in middle-market companies at an inflection point, bringing capital and scaling skills to unleash latent growth potential. Crescendo has made 11 platform acquisitions totaling ~$300M, and has a particular expertise in the construction trades, with 9 such closed acquisitions and 2 pending.
