ATLANTA — Grove Mountain Partners, a leading private equity firm specializing in investments in home service companies and specialty business service companies, announced the acquisition of a majority stake in Plimpton & Hills, the premier wholesale distributor of plumbing and HVAC equipment in Connecticut and adjacent geographies.
This strategic partnership marks a significant milestone in the growth and development of both organizations. Plimpton & Hills, a 125-year-old family-owned business, will continue to prosper under the stewardship of Grove Mountain while retaining the equity and board-level commitment of the Hills family.
"Grove Mountain Partners uniquely understands and respects Plimpton & Hills' multi-generational customer relationships, its deep and first-class supplier base, and its well-known reputation for good service, inventory, and integrity," said Tripp Hills, former owner and president of Plimpton & Hills. "As part of this transaction, we are promoting Susan Montgomery to president. Susan embodies Plimpton & Hills' devotion to customers, customer service and care for our associates."
"I'm honored and humbled to be given the responsibility to lead this great company which I've served for nearly 15 years and am committed to growing the solutions and services which our customers have depended on us for, for over a century," said Montgomery.
"Grove Mountain has looked broadly for a few years to find a deeply respected wholesale plumbing and HVAC distributor whose business and corporate culture are founded on integrity and customer service," said Grove Mountain partner Stephen Fraser. "We are delighted to be able to partner now with Plimpton & Hills to help grow their business."
In addition to this acquisition, Grove Mountain is actively seeking additional partners in the wholesale plumbing and HVAC equipment space around the country, with the aim of creating the premier customer-focused platform with embedded scale and efficiencies.
