Plumbing Acquisitions in 2024

Founder Jeffrey (Jeff) Sarmiento has sold Greater Bay Plumbing, Sarasota's leading plumbing service provider, to Dan Tulchin, CEO of Sundream, an operating business of Hey Brother Industries, as part of Sarmiento's planned retirement. The deal was facilitated by Viking Mergers & Acquisitions and is intended to preserve the company's legacy while integrating it into Tulchin's portfolio of HVAC and plumbing businesses across Florida.

Splash Plumbing, a Southern California plumbing services provider, has acquired Pacific Backflow Corporation, a backflow testing, repair and certification specialist founded in 1982. The deal expands Splash Plumbing’s certified backflow capabilities and extends its service footprint across Orange County and San Diego County.

Trades Holding Co., LLC, a portfolio company of CPC, acquired the assets of multiple franchise locations including Mr. Rooter Plumbing units in Muncie, Anderson and Indianapolis/Central Indiana, Aire Serv of Muncie, and Rainbow Restoration of Carmel. The add-on deal expands Trades' footprint into Central Indiana and adds HVAC and restoration capabilities while the sellers — the Kantners and the Ulloms — transition ownership (with some founders retiring or staying on to support integration).

Trivest Partners has made a majority recapitalization investment in Yummy Pools Holdings, a residential pool cleaning and repair services company based in Atlanta, Georgia. The partnership will provide growth capital to accelerate Yummy Pools' organic expansion and acquisitions across existing and new markets while the founders remain involved.

Italian sanitary specialist Paini S.p.A. has acquired the KWC Home division from Switzerland-headquartered KWC Group, a portfolio company of funds advised by Equistone Partners Europe. The deal is a divestiture (terms undisclosed) that will integrate KWC Home into Paini’s sanitary product offering while allowing Equistone to focus on developing KWC Group’s Professional division.

Propel Equity has launched and closed its platform investment in Flow Services Holdings, a newly created residential services platform focused on sewer and drain repair. Propel will partner with management to scale the business through acquisitions and strategic growth (Flow Services completed its first add-on in December 2023), leveraging trenchless repair technologies to serve homeowners and plumbing partners.

SageWater, a portfolio company backed by Boyne Capital and Grindstone Partners, has acquired AMA Repiping, LLC, a Phoenix-based provider of repipe and plumbing services for the multifamily residential market. The add-on expands SageWater’s geographic footprint into the Southwestern U.S. and will integrate AMA as SageWater’s Southwest Division, enabling broader service offerings including SageWater’s PipeTEST forensic solutions and design-build capabilities.