Peltram Plumbing Holdings (“P3 Holdings”, or “P3”), through its operating company Precision Plumbing and Service (“Precision”), announced the acquisition of E.R. Plumbing Services (“ER Plumbing”), a Charlotte-based provider of plumbing service and maintenance to residential and commercial customers. P3 is a portfolio company of Crescendo Capital Partners (“Crescendo”).
Founded in 1997 and based in Mint Hill, NC, ER Plumbing provides a comprehensive range of plumbing services to homeowners, property managers and commercial customers across the Charlotte metro area.
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Justin Elliott, President of Precision
We’ve known Dave and Laura Parker for many years and have a high degree of respect for them and the business that they have built. ER Plumbing Services is a wonderful business and a complementary addition to the existing Precision commercial service platform.
Dave Parker, President of ER Plumbing, added “Precision is the preeminent plumbing company in the Charlotte area. Knowing Justin and Precision as well as we do, we are confident that we have found partners who share our values, culture and approach to business. The combination of Precision and ER Plumbing will make for a stronger company in the future than exists today and I look forward to the next stage of growth.”
“The acquisition of ER Plumbing is a continuation of P3’s growth strategy: acquire the dominant plumbing company in the top geographies in the US, then grow service organically and through complementary acquisitions,” noted Mike MacRitchie, Crescendo Partner. “Acquiring ER Plumbing will help to accelerate service growth in the Charlotte region.”
Founded in 1997 and based in Mint Hill, NC, ER Plumbing provides a comprehensive range of plumbing services to homeowners, property managers and commercial customers across the Charlotte metro area.
Founded in 1981 and based in Matthews, NC, Precision provides a vast array of plumbing services including maintenance, construction, rehab, upfit, and installation for commercial customers. Precision is an operating company of P3, a multi-geography plumbing-focused mechanical contractor based in Auburn, WA.
Crescendo invests in middle-market companies at an inflection point, bringing capital and scaling skills to unleash latent growth potential. Crescendo has made 11 platform acquisitions totaling ~$300M, and has a particular expertise in the construction trades, with 9 such closed acquisitions and 2 pending.