The Professional Plumbing Group (PPG) is the parent company of two plumbing supply brands: Wolverine Brass and PlumbMaster. Wolverine Brass, which was founded in 1896, manufactures branded plumbing products and sells them directly to professional plumbers and tradesmen throughout the United States. PlumbMaster, founded under a predecessor name in 1932, distributes an array of plumbing fixtures and fittings to the institutional and repair plumbing markets throughout the United States. PPG employs approximately 310 people and is based in Conway, SC (www.professionalplumbinggroup.com).
Dunes Point Capital invests in companies operating in the general industrial and energy sectors that have enterprise values of up to $300 million. The firm is based in Rye, NY (www.dunespointcapital.com).
Bradford Equities Management invests in middle-market companies with $15 million to $75 million in annual revenues across a range of industries. Sectors of specific interest include low-technology manufacturing and specialty distribution. The firm is based in White Plains, NY (www.bradfordequities.com).
The debt for the transaction was provided GSO Capital Partners and PNC Bank.
Lincoln International acted as the exclusive financial advisor to Bradford Equities and PPG, working closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction. Lincoln is headquartered in Chicago (www.lincolninternational.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-23-13