Grove Mountain Partners Acquires Majority Stake in Plimpton & Hills
January 10, 2024
Grove Mountain Partners has acquired a majority stake in Plimpton & Hills, a 125-year-old wholesale distributor of plumbing and HVAC equipment serving the Northeast. The Stephens Group made a minority investment to support the transaction; the Hills family retains equity and board representation while longtime executive Susan Montgomery is promoted to President.
- Buyers
- Grove Mountain Partners, The Stephens Group, LLC
- Targets
- Plimpton & Hills Corporation
- Sellers
- Hills family, Tripp Hills
- Industry
- Building Products
- Location
- Connecticut, United States
- Transaction Type
- Buyout
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