M&A Deal Summary

H.I.G. Private Equity Acquires City Plumbing Supplies

On May 20, 2021, private equity firm H.I.G. Private Equity acquired building materials company City Plumbing Supplies from Travis Perkins for 325M GBP

Acquisition Highlights
  • This is H.I.G. Private Equity’s 14th transaction in the Building Materials sector.
  • This is H.I.G. Private Equity’s 4th largest (disclosed) transaction.
  • This is H.I.G. Private Equity’s 19th transaction in the United Kingdom.

M&A Deal Summary

Date 2021-05-20
Target City Plumbing Supplies
Sector Building Materials
Buyer(s) H.I.G. Private Equity
Sellers(s) Travis Perkins
Deal Type Divestiture
Deal Value 325M GBP

Target

City Plumbing Supplies

Northampton, United Kingdom
website
City Plumbing Supplies is a specialist distributor of plumbing, heating, and bathroom products. Highbourne operates under its primary trading brands City Plumbing Supplies (CPS) and Plumbing Trade Supplies (PTS), alongside several specialist online outlets with diverse product offerings.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 289 of 350
Sector (Building Materials) 14 of 15
Type (Divestiture) 37 of 44
Country (United Kingdom) 19 of 26
Year (2021) 17 of 35
Size (of disclosed) 4 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-13 Homewerks

Lake Bluff, Illinois, United States

Homewerks develops, sources, and markets bathroom, kitchen, and plumbing products for home and commercial use under the Homewerks, Home NetWerks, Home2O, Tosca, and Aqua Vista brand names. Homewerks was founded in 2006 and is based in Lake Bluff, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 CORA Physical Therapy

Lima, Ohio, United States

CORA Physical Therapy is an outpatient rehabilitation company that uses proven clinical practices and cost-effective treatment protocols to return patients to their jobs and lifestyles as soon as possible. CORA clinics offer a complete range of treatment, including outpatient physical therapy and general rehabilitation, worker’s compensation therapy, sports and auto injury rehabilitation, and rehabilitation for seniors. CORA Physical Therapy was founded in 1997 and is based in Lima, Ohio.

Buy -

Seller(S) 1

SELLER

Travis Perkins

Northampton, United Kingdom

website


Category Company
Founded 1797
Sector Building Materials
Employees28,710
Revenue 5.0B GBP (2022)
DESCRIPTION

Travis Perkins is a supplier of materials and professional services to the building and construction, and home improvement markets. Travis Perkins was founded in 1797 and is based in Northampton, the United Kingdom.


DEAL STATS #
Overall 2 of 2
Sector (Building Materials) 1 of 1
Type (Divestiture) 2 of 2
Country (United Kingdom) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-30 Solfex

Lancashire, United Kingdom

Solfex Ltd. is a distributor of solar thermal energy systems.

Buy -