Peltram Plumbing Holdings, LLC (“Peltram”), a portfolio company of Crescendo Capital Partners (“Crescendo”), announced that it has acquired the assets of Brown Industries, Inc. (DBA Precision Plumbing or “Precision”), the largest commercial plumbing company in Charlotte, NC. Ironwood Capital and Byline Bank provided debt financing. Management retains a significant equity position in the combined entity.
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.
Karel Peltram, CEO of Peltram, commented, “We have thoroughly enjoyed our partnership with Crescendo and we are greatly looking forward to this next chapter for growth alongside Precision. Given Crescendo’s effective approach to growth and Precision’s significant presence in the high-growth Charlotte market, we are excited for the future of the Company.”
C. L. Turner, III, Crescendo founder, noted, “Precision represents Crescendo’s 5th non-union platform acquisition in the construction arena. The Peltram-Precision platform combines two well-managed, autonomous, successful companies in thriving markets. Both share a “satisfied employees produce quality results” culture.
Founded in 1985 and based in Auburn, WA, Peltram works primarily on new construction projects for both single-family and multi-family residential units. Crescendo has made ~10 acquisitions totaling ~$250M, and has a particular expertise in the construction trades, with six such closed acquisitions and three pending.