Core & Main to Make Another Acquisition as it Prepares to go Public
Date Posted: July 8, 2021
Posted In: News,
From St. Louis Business Journal: Core & Main LP, a Maryland Heights-based distributor of drainage and fire protection products, has agreed to acquire Pacific Pipe Co. Inc., based in Hawaii.
The deal, terms of which weren’t disclosed, will take Core & Main’s operations to a new state. The transaction will be Core & Main’s 14th acquisition since it became an independent company in August 2017. Core & Main had been a subsidiary of Atlanta-based HD Supply Inc. and became independent through a $2.5 billion deal with New York private equity firm Clayton, Dubilier & Rice.
Pacific Pipe, which began operations in 2011, distributes engineered construction products for the agriculture, golf, irrigation and waterworks industries in Hawaii. It has three locations, on the islands of Hawaii, Maui and Oahu.
“Pacific Pipe is a significant player in modernizing and expanding water infrastructure in Hawaii. Upon closing this transaction, Core & Main will expand its geographic footprint to a new state and learn from a team that has an outstanding reputation for quality products and excellent customer service,” Steve LeClair, CEO of Core & Main, said in a statement. “This acquisition aligns with our core principles, where team members are family and our job is to help the communities thrive.”
“We are excited to join the Core & Main family because both companies are guided by the same principles, with a focus on collaborative teamwork and passionately supporting customer success,” Ken Ota, president of Pacific Pipe, stated. “While we had other interested buyers, the Core & Main team distinguished itself from the beginning, giving us the comfort that our people would be in good hands with even greater opportunity for career development, training, and opportunities for personal and professional growth. We look forward to continuing to support our customers with an even broader product and service offering as part of Core & Main.”