Core & Main LP, a U.S. distributor of water, sewer and fire protection products, announced that it has entered into a definitive agreement to acquire substantially all of the assets of Long Island Pipe Supply, Inc., a provider of fire protection products and fabrication services in the U.S. This transaction is subject to regulatory approval and other customary closing conditions. Completion of the acquisition will mark the seventh by Core & Main since becoming an independent company in August 2017. Financial terms are undisclosed.
“The acquisition of Long Island Pipe will significantly increase Core & Main’s fire protection and fabrication offerings,” said Brad Cowles, president of Core & Main Fire Protection. “We plan to utilize the collective distribution and fabrication expertise of both our companies to better serve our fire protection customers nationwide.”
Under the proposed transaction, Core & Main will add more than 20 fire protection locations to its footprint, primarily in New York and New Jersey. “We are focused on strategic acquisitions that complement our portfolio through enhanced capabilities or greater geographic reach, and this transaction does both,” said Steve LeClair, chief executive officer of Core & Main. “Long Island Pipe is a well-run company with a strong track record of success. We look forward to welcoming their 300-plus team members into the Core & Main family, where together we’ll be better positioned to offer our customers a broad spectrum of fire protection products and fabrication capabilities.”
Robert Moss, owner of Long Island Pipe Supply, said, “We have a long-standing presence in our market and we have grown our business steadily since its founding in 1975. Joining the Core & Main team will create exciting opportunities for our associates and will enable us to provide more robust service to our customers through access to Core & Main’s nationwide distribution channels. We were particularly attracted to Core & Main’s family-oriented culture and the value they placed on the expertise our associates will bring to the table. We look forward to joining the Core & Main family.”
