PE-backed P3 Holdings acquires Power Plumbing

Peltram Plumbing Holdings, which is backed by Crescendo Capital Partners, has acquired Houston-based Power Plumbing, a plumbing-focused mechanical contractor serving multi-family builders throughout Texas.

Peltram Plumbing Holdings, which is backed by Crescendo Capital Partners, has acquired Houston-based Power Plumbing, a plumbing-focused mechanical contractor serving multi-family builders throughout Texas. No financial terms were disclosed.

PRESS RELEASE

Peltram Plumbing Holdings (“P3 Holdings”, or “P3”), a portfolio company of Crescendo Capital Partners (“Crescendo”), announced the acquisition of Power Plumbing (“Power”). Based in Houston, TX, Power is a plumbing-focused mechanical contractor serving multi-family builders throughout Texas.

“We are thrilled to partner with Power. Power’s preeminent reputation and unmatched ability to execute across four high-growth, highly-attractive Texas markets is a natural fit for P3. CL Turner, III, Chairman of P3 Holdings and Crescendo Founding Partner

Dick Pearsall, President and CEO of Power Plumbing, added “Partnering with P3 and Crescendo is incredibly exciting for Power. With the resources of a national platform propelling Power, we believe Power will cement its reputation as the plumbing contractor and employer of choice in Texas.”

“Adding Power to the P3 platform represents a continuation of our successful growth strategy. Dick and his team have built a highly attractive business, and we look forward to working together on this next phase of growth,” noted Mike MacRitchie, Crescendo Partner.

Overview of Power Plumbing
Founded in 1988 and based in Houston, TX, Power Plumbing is the largest plumbing-focused mechanical contractor serving multi-family builders throughout Texas.

Overview of P3 Holdings
P3 Holdings is a mechanical contractor providing plumbing services in six high-growth markets throughout the US. P3 Holdings provides both construction (new construction and retrofit) and service solutions to building owners, developers and homeowners across single-family, multi-family and commercial end-markets.

Overview of Crescendo
Crescendo invests in middle-market companies at an inflection point, bringing capital and scaling skills to unleash latent growth potential. Crescendo has made 12 platform acquisitions totaling ~$350M, and has a particular expertise in the construction trades, with 10 such closed acquisitions and 1 pending.