Power Plumbing
COMPANY PROFILE:
Founded in 1988, Power Plumbing, Inc. is the largest multi-family new construction plumbing installer in the state of Texas, and one of the largest in the nation. Their core customers are the general contractors active in the multi-family arena. Since its inception, the company has completed more than 800 major projects accounting for more than 175,000 living units. And it’s just getting started.
FIELDSTONE’S ROLE:
In 2015, Power Plumbing solicited Fieldstone to help ownership convert the company to a 100% ESOP (Employee Stock Ownership Plan). Fieldstone advised Power Plumbing on their debt financing and helped structure the transaction.
TODAY:
Power Plumbing has gone on to realize considerable growth. Today, the company’s service area stretches across Texas and revenues now exceed $60 million. The original management group remains intact, with additional talent and resources having been added to round out the senior team. And just a few years removed from the milestone ESOP that harnessed and rewarded the passion of the company’s employees – Power Plumbing is a financially stronger company, driven by a more motivated team, benefitting from increased pricing leverage, with the resources to deliver even greater value to its customers.
