Private Equity-Backed Plumbing Acquisitions

P3 Services, a Stellex Capital-backed plumbing and septic platform, acquired six local service providers in 2024 — Forsyth Septic & Rooter Service; Schrader Plumbing; Bob's Backflow & Plumbing Services; Rolland Reash Plumbing; The Plumbing & Drain Company; and 2 Sons Plumbing — expanding its footprint across the Southeast, Southwest, Northeast Florida, and the Pacific Northwest. The add-on deals bolster P3's residential, multi-family and light commercial capabilities and deepen regional coverage as the company builds a national pure-plumbing platform.

Repipe Specialists, backed by Gryphon Investors, acquired A-1 Total Service Plumbing, a Los Angeles-based provider of residential, commercial, municipal and industrial plumbing and pipe lining services. The A-1 management team will remain in place and founder Raymond Gray retains a significant ownership stake; the deal is Repipe's first add-on since its 2022 acquisition by Gryphon and is intended to expand Repipe's plumbing, lining and pipe rehabilitation capabilities nationwide.

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.

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.

Unity Partners LP has completed a majority investment in Poolie, an Austin-based pool cleaning, repair and renovation company. The private equity firm plans to support Poolie's growth through employee ownership programs, operational investments and M&A-driven geographic expansion across Texas and beyond.

Eagle Merchant Partners has acquired Impact Home Services, an independent owner/operator of three Neighborly franchises (Mr. Rooter, Mr. Electric and Precision Door Service) based in the Atlanta metro area. Stellus Capital Management provided unitranche financing and an equity co-investment to support the transaction; Eagle plans to grow Impact via add-on acquisitions and geographic expansion across the Southeast.

Royal House Partners (backed by CPS Capital and 1801 Holdings) has acquired Craftsman Plumbing Company of Lake Saint Louis, Missouri, as an add-on to expand its plumbing footprint in the St. Louis region. Craftsman, a residential and light commercial plumbing services provider with 20+ years in the market, will join RHP's portfolio to extend the platform's service reach west of St. Louis; owner Eric Rios is partnering with RHP in the transaction.

Southeastern Home Services, a newly-formed residential home services platform backed by WhitneyWilder, has acquired Lakeland, Florida-based Pro-Team Plumbing. The add-on deal expands Southeastern's footprint in Central Florida and aims to grow Pro-Team's new construction business while maintaining existing leadership and operations under founder Jeff Oeschger, who remains a partial owner.

Sila Services, a home-services platform, has acquired Heckeroth Plumbing & Heating, a Highland, New York-based plumbing and heating contractor, to expand its presence in the Hudson Valley. The acquisition adds a long-standing local team and capabilities in residential and commercial HVAC, plumbing, electrical and water treatment services to Sila’s multi-brand platform.

Stellex Capital Management acquired Peltram Plumbing Holdings, LLC (P3), a multistate plumbing installation and service platform, from an investor group led by Crescendo Capital Partners. Stellus Capital Management provided unitranche financing and an equity co-investment to support the transaction; Stellex plans to grow P3 organically and via add-on acquisitions while adding senior operating executives to the management team.

Wrench Group LLC, a national home services operator based in Marietta, Georgia, has acquired All About Water, a Chandler, Arizona-based plumbing and water treatment specialist. The deal expands Wrench Group's footprint and capabilities in the Phoenix metropolitan area and strengthens its residential water treatment and plumbing offerings.

Dubin Clark & Company has acquired Affordable Water Heaters and Plumbing, Inc. (AWHAP), a Valencia, California–based in-home water heater replacement, repair and plumbing services provider. Midwest Mezzanine Funds and Reinsurance Group of America provided subordinated debt and equity to support the transaction; Dubin Clark said it will partner with AWHAP management to scale operations and pursue add-on acquisitions.

Heartland Home Services, a portfolio company of North Branch Capital, has acquired First Call Plumbing, Inc., a residential plumbing provider based in Jenison, Michigan. The add-on expands Heartland's plumbing capabilities and Midwest service footprint, complementing its existing HVAC, plumbing and electrical platform.