Marcone announces the acquisition of Munch’s Supply

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ST. LOUIS, January 11, 2022 / PRNewswire / – Marcone, a leading distributor of home appliance, HVAC and plumbing parts and repair equipment across North America and current holding company of Genstar Capital, today announced the acquisition of Munch’s Supply (“Munch’s”), a leading distributor of HVAC equipment, parts and supplies from Ridgemont Equity Partners. The acquisition immediately establishes Marcone as a leader in the HVAC industry and, combined with its recent acquisition of plumbing distributor Professional Plumbing Group (“PPG”), significantly expands its home services. Ridgemont and the Munch management team will retain a significant minority stake in the combined entity.

Founded in 1956, Munch’s Supply is a leading supplier of HVAC and plumbing replacement parts and equipment. Based at Hillside, Illinois, Munch’s sells approximately 135,000 SKUs in 65 facilities with a workforce of approximately 1,100 employees. With the addition of Munch’s, Marcone now operates in three major growing markets within the home (appliances, HVAC and plumbing) serving millions of homes, 43,000 technicians and larger strategic clients such as property managers, retailers, residential warranty providers and e-commerce with tens of millions of parts sold annually at its 113 locations across United States and Canada. Marcone also offers a growing range of services and technologies to its customers, including training, payroll, insurance, inventory management and field service management.

Jim souers, CEO of Marcone, said: “Munch’s has established a strategic partnership with the industry’s leading OEMs, delivering the highest quality and most trusted brands on the market. Customers value their partnership with Munch’s, and we look forward to strengthening the relationships they maintain As we continue to develop Marcone as a partner serving the appliance, HVAC and plumbing industries, I look forward to work with Bob munch and his team to leverage the core tenets of Munch’s philosophy, including its reputation as a premier M&A buyer in the HVAC industry. “

Bob munch, Managing Director of Munch’s, said: “Over the decades, we have made Munch’s a one-stop shop that guarantees our customers a reliable and consistent partner to access the industry’s most iconic brands, enabling them to perform installation, repair and service work with minimal downtime. Our growing presence in e-commerce will also provide cutting-edge technological capabilities and seamless integration with our suppliers and customers. Munch’s local approach to meeting the needs of suppliers, customers and employees is a strong cultural fit with Marcone, and we look forward to being part of their family and expanding Marcone’s HVAC service capabilities in geographic areas. wider. “

Rob rutledge, Managing Director of Genstar Capital, said, “Munch’s is a great company that fits perfectly with Jim’s thesis of being the hub for parts and services for the home. We are excited to partner with Bob, Ridgemont and the Munch team to accelerate the growth of the platform, including through organic initiatives to better serve our combined customer base and ongoing M&A opportunities on the important HVAC and plumbing markets. “

Jack purcell, Managing Partner at Ridgemont, added: “Along with Bob and his team, we have extended the Munch’s platform to several new states, entered the Canadian market and significantly diversified the product offering of the business. Even years before our investment in Munch’s Supply, we admired the legacy as a trusted supplier and customer partner locally, and we are very happy to join forces with Genstar and Marcone, a industry leader in the home appliance market with a strong reputation as a solution-oriented supplier.

Baird and Houlihan Lokey served as financial advisers to Munch. BMO Capital Markets acted as financial advisor to Genstar and Marcone. Alston & Bird acted as legal counsel for Munch’s. Weil, Gotshal & Manges LLP acted as legal counsel to Genstar and Marcone.

About Marcone
Marcone is an authorized distributor of major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, LG and many more. Through its extensive distribution network, Marcone provides the largest inventory of original spare parts in the country for household appliances such as refrigerators, stoves, dishwashers, microwaves, washers and dryers. . Marcone exports worldwide and also operates a comprehensive training institute providing quality business and technical training. Based at Saint Louis, Marcone operates 113 facilities, has approximately 2,000 employees and serves approximately 43,000 technical customers. For more information visit www.marcone.com.

About Munch’s Supply
Munch’s Supply was founded in 1956 by Willard munch, who wanted to develop a local source of electricity supply for entrepreneurs in the region. Today, the company has more than 1,000 employees dedicated to providing contractors in the heating, air conditioning and plumbing industry with quality products and exceptional service. Proud to celebrate its 65th anniversary in 2021, Munch’s Supply is committed to serving as a leading distributor of trusted brands such as American Standard, Trane, Mitsubishi, Rheem, IPEX, AO Smith, Kohler, Tempstar, Keeprite and Frigidaire. Through Munch’s Holdings, LLC, it operates Munch’s Supply, Tommark, O’Connor Company, Comfort Air Distributing, C&L Supply HVAC and Plumbing, API of NH and Delta T, Marks Supply and TML Supply, which continue to serve as main sources of HVAC. and plumbing equipment and supplies to contractors everywhere North America. www.munchsupply.com.

About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has actively invested in high quality companies for over 30 years. Situated at San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform the companies in its portfolio into leading companies. Genstar currently has around $ 33 billion of assets under management and targets investments focused on targeted segments of the financial services, industrial, healthcare and software sectors.

About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based private equity and growth investor. Since 1993, Ridgemont executives have invested more than $ 5.5 billion. The company focuses on equity investments up to $ 250 million and employs a proven industry-driven investment approach and repeatable value creation strategies. www.ridgemontep.com

Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334

SOURCE Marcone

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