Stellex Capital Management, a middle-market private equity firm, has made a platform investment in Peltram Plumbing Holdings LLC (P3). The deal was completed in partnership with the existing management team from an investor group led by Crescendo Capital Partners.
Peltram Plumbing is a plumbing services platform consisting of Peltram Plumbing, Power Plumbing, Precision Plumbing, and E.R. Plumbing. The firm installs plumbing systems and provides both maintenance and repair for homebuilders, developers, property managers and homeowners.
“We are thrilled and humbled by this opportunity to provide capital and resources to support P3’s organic and M&A-focused expansion plan,” added Irina Krasik, principal at Stellex. “Our goal is to materially expand maintenance and repair services capabilities in P3’s MSAs and consequently, seek to create more value for its customers and provide better opportunities for its employees.”
Stellex was advised by DLA Piper LLP and the Peltram was advised by Morrison Cohen LLP and Fifth Third Securities.