FMI Advises Pacific Pipe Company, Inc. in Sale to Core & Main LP
FMI Capital Advisors is pleased to announce the sale of Pacific Pipe Company, Inc. to Core & Main, Inc., a leading distributor of water, wastewater, storm drainage and fire protection products, and related services for $102.5 million. With locations on the islands of Hawaii, Maui, and Oahu, Pacific Pipe Company, Inc. is a distributor of products for the water, sewer and irrigation markets throughout Hawaii with $73.1 million in revenue in 2020. FMI Capital Advisors served as the exclusive financial advisor to Pacific Pipe Company, Inc. for this transaction.
"Pacific Pipe is a significant player in modernizing and expanding water infrastructure in Hawaii. Upon closing this transaction, Core & Main will expand its geographic footprint to a new state and learn from a team that has an outstanding reputation for quality products and excellent customer service," said Steve LeClair, chief executive officer of Core & Main. "This acquisition aligns with our core principles, where team members are family and our job is to help the communities thrive."
“FMI has a great deal of experience in the waterworks market, so they were the natural choice to represent us”, said Ken Ota, President of Pacific Pipe. “They really understood our business, goals and unique culture, and communicated that well to the interested buyers. And they found us the right match in Core & Main. We couldn’t be happier.”
About Pacific Pipe Company, Inc.
Pacific Pipe has been in operation since 2011, serving municipalities and contractors with a broad waterworks product offering. Pacific Pipe operates four locations, spanning the islands of Hawaii, Maui, and Oahu. The company distributes materials for construction projects in the agriculture, golf, irrigation, and municipal waterworks industries throughout Hawaii.
About Core & Main
Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. With more than 285 locations, the company provides its customers local expertise backed by a national supply chain. Core & Main's 3,700 associates are committed to helping their communities thrive with safe and sustainable infrastructure. For more, visit www.coreandmain.com.
About FMI Capital Advisors
FMI Capital Advisors has fully dedicated and deeply experienced investment banking teams advising clients on merger and acquisition (M&A) transactions across the built environment. We maximize value for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships.
FMI Capital Advisors’ Building Products team provides mergers and acquisitions advisory, capital formation, and corporate finance services for manufacturers and distributors of products and materials used in residential, commercial, and infrastructure construction. Managing Director Porter Wiley served as advisor for this transaction.
For more information, visit FMI Capital Advisors.
FMI Capital Advisors Contact:
Porter Wiley
Managing Director
[email protected]
919.785.9210