Soundcore-backed PumpMan buys Federal Pumps


PumpMan Holdings LLC, a portfolio company of Soundcore Capital Partners, has acquired Brookyn, New York-based Federal Pumps, a service provider for commercial, industrial, and municipal pump systems. No financial terms were disclosed.

PRESS RELEASE

NEW YORK, NY – January 3, 2018 – Soundcore Capital Partners, LLC (“Soundcore” or “SCP”) portfolio company PumpMan Holdings LLC (“PumpMan” or “the Company”) has acquired the Brooklyn, New York-based company, Federal Pump Corporation (“Federal Pumps” or “Federal”). The deal marks Soundcore’s 24th acquisition since the firm’sinception in March 2015.

Founded in 1927, Federal is a leading service provider for commercial, industrial, and municipal pump systems, offering sales, inspection, routine maintenance, repairs, and other ancillary services to the TriState area. Led by President Chris Murtagh and supported by a team of experienced & dedicated pump specialists, Federal has established an excellent reputation for superior quality, industry expertise, efficiency, performance, and product reliability.

“This acquisition is an important piece of growing PumpMan’s national footprint,” said Donald Devine, President and CEO of PumpMan Holdings, “With Alyan Pump in Philadelphia and the addition of Federal Pump in New York, PumpMan’s service and repair footprint now covers a large portion of the Northeast Corridor, allowing us to address our customers’ needs quickly and efficiently.”
“The acquisition of Federal was a natural next step for PumpMan and further solidifies the Company’s expansion in the New York- to- Philadelphia region,” said Feliks Zarotsky, Managing Partner of Soundcore Capital Partners.

Jarrett Turner, Managing Partner of Soundcore, added, “As we enter 2018, we are proud to welcome Chris Murtagh and his team members to the PumpMan family. We look forward to continuing to support PumpMan’s growth and success under the management of Don Devine, and we’re very excited for what’s to come for the business this year.”

Post-close, Murtagh will continue to serve in the same role and lead the service center at the local level.

The business will operate under the Federal Pumps name as a part of PumpMan Holdings. Terms of the transaction were not disclosed.

About Soundcore Capital Partners LLC:
Soundcore Capital Partners is a New York City-based private investment firm specializing in control equity investments and leveraged buyouts of lower middle market North American (US or Canada) headquartered businesses. The firm partners with exceptional management teams and creates long-term value for investors through a combination of operational improvements, internal growth initiatives, and strategic acquisitions.

Soundcore primarily focuses on businesses with revenues that are recurring in nature and that are in fragmented industries with multiple acquisition roll-up opportunities. The firm specializes in proprietary deal sourcing through industry relationships rather than traditional bank auction processes, and seeks businesses with management team members and / or selling shareholders who wish to have a meaningful ownership stake in the newly acquired enterprise. Since inception, Soundcore has acquired 24 companies.

For additional information on Soundcore Capital Partners, please visit www.soundcorecap.com

About PumpMan Holdings LLC:
PumpMan Holdings LLC was formed in 2016 following the acquisition of Baldwin Park, California based PumpMan Inc. Headquartered in Saddlebrook, New Jersey and with roots dating back to 1976, PumpMan provides onsite pump system maintenance, repairs and other field services to municipal, commercial, industrial and residential customers. For more information, visit
www.pumpmanholdings.com