Blue Sea buys plumbing supplies provider ProSource

• TM Capital acted as financial advisor to CID Capital and ProSource while Ice Miller LLP acted as legal counsel
• ProSource is led by CEO Drew Roberts, who joined the company in 2020
• Based in West Palm Beach, Florida, Blue Sea invests in, lower middle market companies

Blue Sea Capital has acquired ProSource Supply, a provider of plumbing supplies, from CID Capital. No financial terms were disclosed.

ProSource operates seven showroom locations across North and South Carolina.

ProSource is led by CEO Drew Roberts, who joined ProSource in 2020.

“Drew 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,” said Eric Hansen, a partner at Blue Sea Capital, in a statement. “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.

ProSource was founded in 1996.

Based in West Palm Beach, Florida, Blue Sea invests in, lower middle market companies. The firm has more than $750 million in assets under management and invests across three industry verticals: healthcare, industrial growth, and aerospace & defense.