HOCKLEY, Texas–(BUSINESS WIRE)–P3 Services, a provider of end-to-end plumbing services from installation to retrofit, maintenance, and repair services for the multi-family, light commercial, and single-family end-markets, is proud to announce the acquisition of Anchor Plumbing located in San Antonio, TX. P3 Services is a platform investment of Stellex Capital Management. This marks the 2nd acquisition by P3 in 2023, and the 11th acquisition since the initial creation of the platform. The Anchor team will remain under the operational leadership of President, Paul Arguijo. 

The recent acquisition of Anchor demonstrates P3 Services’ continued expansion into high-growth metro service areas (“MSAs”), with the goal of building geographic dominance as a one-stop-shop for end-to-end plumbing solutions in the Southeast, Southwest, and Northwest regions of the United States. At the time of its original acquisition of P3 Services, Stellex aimed to provide P3 with the capital and resources necessary to facilitate expansion through organic growth and strategic acquisitions. Over the last 18 months, P3 has materially expanded its maintenance and repair services capabilities in neighboring high-growth MSAs in an effort to create more value for its customers and provide better opportunities for its employees.

Since acquiring P3 Services in January 2022, Stellex and the newly assembled executive team have successfully completed eight acquisitions in key geographies. In leveraging the Company’s scale, geographic density, and acquisition playbook, P3 Services has become the acquirer of choice for many independent plumbing companies. As P3 Services continues evaluating acquisition targets in its pipeline, the executive team, led by Terry Young (CEO of P3), and Chad Lusco (CEO of Services Division), remains focused on M&A integration and organic growth.

“I am thrilled to continue leading this next phase of growth for the business. In partnership with Stellex and the P3 teams, we are focused on continuing our track record of strategic acquisitions, serving to expand our reach and providing the highest standard in quality and reliability for our customers,” said Mr. Lusco. “As we continue growing in our target markets, we will work alongside our customers to provide best-in-class service, from installation, to retrofit, to maintenance and repair services.”

About P3 Services

P3 Services is a provider of end-to-end plumbing services from installation to retrofit, maintenance, and repair services across multi-family residential, single-family residential and light commercial buildings. P3 operates in three markets under separate brands and entities, and shares consolidated corporate resources; the Company operates as Peltram Plumbing (“Peltram”) and Patriot Plumbing, Heating, and Cooling (“Patriot”) in the Northwest market, Precision Plumbing (“Precision”), Air Care Heating and Cooling (“Air Care”), Universal Plumbing (“Universal”), and Cottrell & Co., Inc. Plumbing (“Cottrell”) in the Southeast market, and Power Plumbing (“Power”), Premier Plumbing (“Premier”), and Anchor Plumbing (“Anchor”) in the Southwest market.

Additional information may be found at www.p3services.com.

About Stellex Capital Management LLC

Stellex is a global, multi sector investment firm with offices in New York, Detroit, Pittsburgh, and London with over $2.6 billion in assets under management. Founded in 2014, Stellex seeks to identify and deploy capital in opportunities that have the potential to provide growth, stability, and operational improvement. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include both tech-enabled and data services, business services, industrial manufacturing, aerospace & defense, government services, transportation, logistics and food.

Additional information may be found at www.stellexcapital.com.

The post P3 Companies Acquires Anchor Plumbing appeared first on DAILY SAN FRANCISCO BAY NEWS.

Some big changes are on the horizon for San Francisco’s popular beer company, Anchor Brewing Co. The company told the San Francisco Chronicle that it is withdrawing distribution in the United States and will only sell its beer in California. With this big news comes another blow to longtime fans – the brand will also be canceling the annual release of Anchor Christmas Ale, which has been made every year since 1975. Only a small amount will be available for sale at the San Francisco tasting room this year. and the beer “probably won’t be coming back next year.”

The reason for the changes, according to a brand representative, is the “time-consuming and costly brewing and packaging requirements.” Owner Fritz Maytag saved the company from bankruptcy in 1965 (the company was founded in 1896) before selling it to Keith Greggor and Tony Foglio in 2010. Sapporo acquired the company in 2017.

Peet’s Coffee leaves Oakland after warehouse roof collapse

After a fatal roof collapse at a warehouse in March, Peet’s Coffee is closing its Oakland distribution center and moving operations to a warehouse in Tracy this summer, reports the San Francisco Business Times. According to the layoff notices, the relocation will affect 110 employees, and 40 percent of those employees have said they are willing to relocate, a news agency official said. Peet’s will retain its headquarters and roastery in Emeryville and Alameda, respectively.

Richmond oyster shop to close

The good times at the Rocky Island Oyster Co. oyster fishery on the Richmond shore are over — or at least on hiatus. The restaurant said it will close its Craneway Pavilion store by the end of the month. The final day is scheduled for Sunday June 18th. But the restaurant hasn’t disappeared for good; The owners will try to find a new permanent space.

New chef at Pomet in Oakland

Chefs Alan Hsu and Sarah-Jane Cooper will both be leaving produce-focused Oakland-based Pomet, Hsu announced via Instagram. Hsu and Cooper’s last day is Sunday, June 18, and already a new chef is on the horizon: Chef Edalyn Garcia, most recently at the Village Pub in Woodside, will take the helm on Wednesday, June 21, the restaurant said with.

Introducing the speaker series at the Calabash restaurant in Oakland

Calabash, the Oakland restaurant and marketplace of Nigel Jones and Hanif Sadr, will host the first of its Food for Thought speaker series with actor Delroy Lindo on Wednesday, June 14 from 6-8 p.m. This Wednesday’s event will be moderated by Cecilia Philips from KQED. Reservations are strongly recommended and can be made through the restaurant’s website.

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The post San Francisco Beer-Maker Anchor Brewing Is Stopping All Gross sales Outdoors of California appeared first on DAILY SAN FRANCISCO BAY NEWS.