Blue Sea Capital, a private equity firm, has purchased ProSource Supply, a plumbing supplies provider, from CID Capital.
ProSource provides plumbing supplies, plumbing fixtures, lighting, cabinet and door hardware to residential and commercial plumbers, builders, contractors, designers and homeowners. The partnership with Blue Sea aims to expand the company’s organic growth and geographic footprint throughout the southeast.
“Drew [Roberts] and the team at ProSource have done a tremendous job growing the Company, adding to the legacy of Grover and Tonya Martin who founded ProSource over 25 years ago,” comments Eric Hansen, partner at Blue Sea Capital. “We are thrilled to partner with such an outstanding team and look forward to leveraging our expertise and resources to support ProSource.”
Raymond James acted as financial advisor and Kirkland & Ellis acted as legal counsel to Blue Sea Capital. TM Capital acted as financial advisor and Ice Miller LLP acted as legal counsel to CID Capital and ProSource.