BOCA RATON, Fla.– Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that an affiliate has completed the acquisition of Andersen Commercial Plumbing, (“ACP” or “the Company”). Terms of the private transaction were not disclosed.
Founded in 1993 and headquartered in La Verne, California, ACP is a leading provider of commercial plumbing services across Southern California, including maintenance and repair, tenant improvement and new build solutions. The Company’s customer base of more than 9,000 local and national accounts includes commercial office buildings, industrial facilities, educational institutions, healthcare providers and life sciences companies.
“Given our deep business services experience, including our highly successful exit of Horizon Services in 2019 following 10 add-on acquisitions, we look forward to leveraging our ‘buy and build’ expertise with ACP,” said M. Steven Liff, Head of Private Equity North America and Senior Partner, Sun Capital. “The commercial plumbing sector is highly fragmented, so we see an opportunity to accelerate Andersen’s expansion, help them attract and retain talent in a highly competitive environment, and make them the acquirer of choice across the region.”
“When evaluating potential partners that could help us optimize and execute our growth plan, we looked at a number of factors, including a history of working with services businesses, a strong track record with founder-owned companies, and a reputation for hands-on operational expertise,” said Paul Andersen, Founder and President of Andersen Commercial Plumbing. “Sun Capital’s combination of resources, industry knowledge and experience made them the ideal match. Along with our CEO Christian Hand, I am excited to work with the Sun Capital team to build on our leadership position and capitalize on new opportunities.”
“One of the factors that stood out for us as we looked at Andersen was the quality of their people, including a longstanding leadership team that has a real understanding of industry dynamics and deep roots in the plumbing trade,” said Rossen Georgiev, Principal, Sun Capital Partners. “We share Paul and Christian’s vision for the future of the Company and are very excited to be part of the next chapter of their already successful story by supporting their growth strategy and building a strong infrastructure that will sustain the Company for decades to come.”
