Plimpton & Hills is a 125-year-old, family-owned distributor with more than 20 locations across Connecticut, Massachusetts and New York.
Private equity firm Green Mountain Partners (Atlanta, GA) acquired a majority stake in Plimpton & Hills, a 125-year-old, family-owned distributor of plumbing and HVAC equipment based in Meriden, CT.
Plimpton & Hills services the greater U.S. northeast, with more than 20 locations across Connecticut, Massachusetts and New York.
“Grove Mountain Partners uniquely understands and respects Plimpton and Hills’ multi-generational customer relationships, its deep and first-class supplier base, and its well-known reputation for good service, inventory and integrity,” said Tripp Hills, former owner and President of Plimpton and Hills.”
READ MORE: MDM’s 2023 M&A Recap: A Mega Year in Dealmaking Activity (Premium)
Terms of the deal were not disclosed. As part of the transaction, Plimpton & Hills has promoted Susan Montgomery to company President.
“I’m honored and humbled to be given the responsibility to lead this great company which I’ve served for nearly 15 years and am committed to growing the solutions and services which our customers have depended on us for, for over a century,” Montgomery in a Jan. 9 news release.
In addition to the acquisition, Grove Mountain said it is actively seeking additional partners in the wholesale plumbing and HVAC equipment space around the country, with the aim of creating “the premier customer-focused platform with embedded scale and efficiencies.”
The firm’s website states that Green Mountain invests in middle-market home service companies and specialty business service companies with annual revenues between $15 million and $200 million.
“Grove Mountain has looked broadly for a few years to find a deeply respected wholesale plumbing and HVAC distributor whose business and corporate culture are founded on integrity and customer service,” said Stephen Fraser, Green Mountain Partner. “We are delighted to be able to partner now with Plimpton and Hills to help grow their business.”
DLA Piper provided legal counsel to Grove Mountain.
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Mike Hockett
Mike Hockett is MDM’s executive editor, having joined the publication in March 2022. He oversees MDM’s editorial content and direction, coordinates with contributing authors, conducts interviews with executives in the wholesale distribution space and serves as the editorial face of MDM at industry events. He has extensively covered the distribution and manufacturing sectors since 2014. Hockett earned a degree in print journalism from the University of Wisconsin-Eau Claire and works from his home in Madison, Wisconsin. He can be contacted at mike@mdm.com.
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