HOCKLEY, Texas–(BUSINESS WIRE)–P3 Services, a provider of full plumbing services from installation to retrofit, maintenance and repair services for the multi-family, commercial and single-family home end markets is proud to announce Acquisition of Anchor Plumbing is located in San Antonio, TX. P3 Services is a platform investment by Stellex Capital Management. This is the second acquisition by P3 in 2023 and the 11th acquisition since the platform was first created. The Anchor team will remain under the operational leadership of President Paul Arguijo.
The recent acquisition of Anchor demonstrates P3 Services’ continued expansion into high-growth metro service areas (“MSAs”) with the goal of establishing geographic dominance as a one-stop shop for end-to-end plumbing solutions in the Southeast. Southwest and Northwest regions of the United States. At the time of the original acquisition of P3 Services, Stellex aimed to provide P3 with the necessary capital and resources to enable expansion through organic growth and strategic acquisitions. Over the past 18 months, P3 has significantly expanded its maintenance and repair capabilities in neighboring high-growth MSAs to create more value for its customers and better opportunities for its employees.
Since acquiring P3 Services in January 2022, Stellex and the newly assembled leadership team have successfully completed eight acquisitions in key geographies. Leveraging the company’s scale, geographic density and acquisition strategies, P3 Services has become the preferred buyer for many independent plumbing companies. As P3 Services continues to review acquisition targets in its pipeline, the leadership team, led by Terry Young (CEO of P3) and Chad Lusco (CEO of Services Division), remains focused on M&A integration and organic growth.
“I am delighted to continue leading this next phase of growth for the company. Working with Stellex and the P3 teams, we are focused on continuing our track record of making strategic acquisitions, expanding our reach and providing our customers with the highest standard of quality and reliability,” said Mr. Lusco. “As we continue to grow in our target markets, we will work with our customers to provide best-in-class service, from installation to retrofit to maintenance and repair services.”
About P3 Services
P3 Services is a provider of full plumbing services from installation to retrofit, maintenance and repair services for multi-family, single-family homes and light commercial buildings. P3 operates in three markets under separate brands and entities and shares consolidated corporate resources. The Company operates in the Northwest market as Peltram Plumbing (“Peltram”) and Patriot Plumbing, Heating, and Cooling (“Patriot”), Precision Plumbing (“Precision”), Air Care Heating and Cooling (“Air Care”) and Universal Plumbing (“Universal”) and Cottrell & Co., Inc. Plumbing (“Cottrell”) in the Southeast market, and Power Plumbing (“Power”), Premier Plumbing (“Premier”) and Anchor Plumbing (“Anchor”) in the Southwest market .
Visit www.p3services.com for more information.
About Stellex Capital Management LLC
Stellex is a global, multi-industry investment firm with offices in New York, Detroit, Pittsburgh and London and over $2.6 billion in assets under management. Founded in 2014, Stellex seeks to identify and deploy capital for opportunities that have the potential to drive growth, stability and operational improvement. Portfolio companies benefit from Stellex’s industry knowledge, operational capabilities, executive network, strategic insights and access to capital. Sectors of particular focus include both technology-enabled services and data services, business services, industrial manufacturing, aerospace and defense, government services, transportation, logistics and food.
For more information, visit www.stellexcapital.com.
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