Marcone Acquires Skilled Plumbing Group | Information
ST. LOUIS, December 20, 2021 / PRNewswire / – Marcone, the leading household appliances distributor and portfolio company of Genstar Capital, today announced the acquisition of Professional Plumbing Group (PPG), a distributor of plumbing products for repair and remodeling applications, from Dunes Point Capital, LP. known .
PPG develops, produces, markets and sells high quality sanitary products. PPG’s portfolio includes products from two own brands – Wolverine Brass and Speakman – as well as third-party products from all leading brands. Wolverine Brass is a respected brand that has sold high quality plumbing products exclusively to professional plumbers and skilled workers for over 125 years. Speakman is a 150-year-old brand well known for high quality showers and other faucets. PPG sells 20,000 SKUs to 10,000+ customers including plumbing engineers, third-party suppliers, e-commerce providers and retailers, and through commercial channels such as the hospitality industry. PPG has nearly 300 employees and is based in Concordville, PA.
Jim Sours, Chief Executive Officer of Marcone, said: “PPG is an excellent company and a leader in the sanitary ware market, operating through highly diversified sales channels with longstanding customer relationships. Its brands are well-known and trusted by the industry and have a strong strategic fit with our forward strategy. We are pleased to benefit from the increased spending on sanitary products from consumers, technicians and larger strategic customers, and look forward to working with PPG to accelerate growth. We look forward to welcoming PPG’s strong management team and organization to the Marcone family. “
Rob Rutledge, Managing Director of Genstar Capital, said, “When we worked with Marcone and his management team earlier this year, we knew they were a really great company in their core market, with great potential for expansion through the sale of other parts and services in the household PPG represents an exciting step into the large and fragmented plumbing market, with significant revenue opportunities for the entire customer base. “
Marcone is an authorized distributor for major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, LG and many more. Through its extensive distribution network, Marcone supplies the largest inventory of original spare parts in the country for household appliances such as refrigerators, stoves, dishwashers, microwaves, washing machines and dryers. Marcone exports to over 120 countries and also operates a comprehensive training institute that offers high quality commercial and technical training. Headquarters in St. Louis, Marcone has 12 regional distribution centers and nearly 50 retail centers.
PPG is a distributor of plumbing products for repair and remodeling applications. PPG sells two of its own brands (Wolverine Brass and Speakman) along with third party sanitary products. PPG serves ten thousand customers through four channels: direct-to-trade, commercial, e-commerce and retail. PPG is headquartered in Concordville, PA and employs almost 300 people. Please visit https://www.ppg-inc.com for more information.
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry leaders. Genstar currently has approx. $ 33 billion of assets under management and is aimed at investments focused on specific segments of the financial services, industrial, healthcare and software industries.
Contact: Chris Tofalli
Chris Tofalli Public Relations
