PumpMan Holdings, a platform of Soundcore Capital Partners, has acquired W.C. Weil Company and Bartley Pump in separate transactions that both closed on August 25, 2017. PumpMan Holdings was formed by Soundcore in September 2016 as part of the acquisition of PumpMan Inc.
PumpMan provides service and repair capabilities for all types of pumping systems. Services include repair/replacement of seals, bearings, shafts, impellers; machining of pump parts; motor rewinds; laser shaft alignments; impeller trim and balancing; and complete rebuilds or redesigns of pumping systems. The company was founded in 1976 and is headquartered east of Los Angeles in Baldwin Park, CA (www.pumpman.com) (www.alyanpump.com) (www.pumpmanholdings.com).
WC Weil is a provider of water and waste water equipment and services (start-up, inspection, troubleshooting and repair) to municipal water and waste water treatment pumping systems in the Pittsburgh metropolitan area. The company was founded in 1978 by William Weil and was sold to its current CEO, Greg Madia, in 2002. WC Weil is headquartered north of Pittsburgh in Allison Park, PA (www.wcweil.com).
Bartley Pump services and repairs well pumps, motors, pressure tanks, filters, valves, and controls for commercial, agricultural, and municipal customers throughout the Bay and Napa regions of Northern California. The company, led by President Don Kaminski, was founded in 1967 and is headquartered in Santa Rosa, CA (www.bartleypump.com).
“Together, WC Weil and Bartley Pump have an excellent reputation for strong operations and management in their respective markets,” said Don Devine, PumpMan’s CEO. “We look forward to working with the teams to continue delivering quality service to their customers, accompanied by PumpMan’s knowledge and expertise in the pump maintenance, repair and service industry.”
“We are thrilled to join forces with the teams of both WC Weil and Bartley to build upon the strong success they have achieved thus far under the management of Greg Madia and Don Kaminski,” said Jarrett Turner, a Managing Partner of Soundcore. “The partnership exemplifies our intense focus of pursuing very healthy investments in highly-fragmented, niche markets. Working closely with Don and the PumpMan team to integrate best practices, our goal is to ultimately grow these family owned and operated businesses to scale through an aggressive buy-and-build approach.”
The acquisitions of W.C. Weil and Bartley Pump are the second and third add-ons acquisitions completed by PumpMan under Soundcore’s ownership. In March 2017, it acquired Alyan Pump, a provider of pumps, pump system installations, maintenance and repair services to the commercial, industrial, municipal and residential markets in the mid-Atlantic region of the US.
“The recent acquisitions of WC Weil and Bartley are important milestones that further increase PumpMan’s market penetration in two additional MSAs. Soundcore looks forward to continuing to support PumpMan’s growth and success,” said Feliks Zarotsky, a Managing Partner of Soundcore.
Soundcore Capital Partners invests from $4 million to $30 million of control equity in lower middle market companies that are headquartered in the US or Canada. Typical targets will have from $3 million to $15 million in EBITDA. Sectors of interest include automotive, building products, business services, chemicals, consumer products, distribution, energy services & products, food & beverage, general manufacturing, healthcare services, industrial machinery & services, packaging, plastics, and transportation. Soundcore was founded in 2015 and is based in New York (www.soundcorecap.com).
© 2017 Private Equity Professional | August 30, 2017
