06/08/2021 | Announcement
Ironwood Capital Portfolio Company Peltram Plumbing, LLC Acquires E.R. Plumbing Services, Inc.
AVON, CONNECTICUT, June 8, 2021 – Ironwood Capital is pleased to announce that its portfolio company, Peltram Plumbing, LLC (“Peltram”), based in Auburn, Washington, has acquired E.R. Plumbing Services, Inc. (“ERP”).
Headquartered in Mint Hill, North Carolina, ERP is a full-service plumbing contractor specializing in repair and maintenance services to residential customers, property management companies and commercial companies. ERP is the second acquisition for Peltram, which previously acquired Charlotte-based Precision Plumbing (Precision) in October 2020. Through these acquisitions, Peltram has successfully brought together leading companies in their respective markets to achieve bi-coastal operations, to further diversify its customer base and end markets, and to grow its network of plumbing professionals.
“We are excited to see Peltram expand its service-based business, a key growth strategy for the company,” noted Alex Levental, partner at Ironwood Capital. “The acquisition of ERP will allow the company to offer a wider array of services to its customers throughout the Charlotte region.”
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. Its debt-oriented, national platform has invested more than $900 million in over 90 companies since 2001. Ironwood currently invests in the form of subordinated debt and minority equity in amounts ranging from $8 million to $25 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit https://ironwoodcap.com/.
About Peltram Plumbing, LLC
Peltram Plumbing Holdings, LLC (“Peltram”) is an Auburn, Washington-based provider of plumbing and mechanical services for single-family and multi-family residential construction projects. Peltram serves both the East and West Coast regions and is the plumber of choice for an array of nationally recognized homebuilders, multi-family developers, and general contractors. For more information, please visit http://peltramplumbing.com.
Contacts
Carolyn C. Galiette
Partner, President
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing
And Communications
(860) 409-2117
butler@ironwoodcap.com
