Marcone, a residential appliance parts distributor and a portfolio company of Genstar Capital, has purchased Professional Plumbing Group, a distributor of plumbing products for repair and remodeling, from Dunes Point Capital LP.
PPG designs, manufacturers, markets and distributes plumbing products through proprietary brands, Wolverine Brass and Speakman, and third-party products. The firm delivers 20,000 SKUs to over 10,000 professional plumbers and trade personnel.
“PPG represents an exciting step into the large and fragmented plumbing market, with material revenue opportunities across the combined customer base,” said Rob Rutledge, managing director at Genstar.
“PPG is a superb business and a leader in the plumbing specialty marketplace operating through highly diversified sales channels with long-established customer relationships,” commented Jim Souers, CEO of Marcone. “We are excited to capitalize on increased spending on plumbing products from consumers, technicians and larger strategic accounts, and look forward to working together with PPG to accelerate growth.”