Manatee County plumbing company partners with Chicago private equity firm

A Chicago-based private equity firm has invested in a Manatee County commercial plumbing company. Shore Capital Partners is partnering with Ackerman Plumbing to help drive growth, according to a statement. Terms of the deal were not disclosed.

Ackerman Plumbing, which was founded in 1946, specializes in large-scale commercial projects, from shopping centers to medical institutions. Recent jobs include the St. Regis Resort Longboat Key and Residences at 400 Central in St. Petersburg.

Teaming up with Shore Capital Partners is an “exciting opportunity,” Ackerman Plumbing President Eric Ackerman says in a statement. “Shore’s resources and similar vision for quality service and customer care will enable us to achieve even more for our clients and the community.”

Shore Capital Partners has $9.1 billion in assets under management and focuses on lower-middle market investments. Its strategy is to target proven, successful private companies with superior management teams, stable cash flow and significant growth potential in the health care, food and beverage, business services, industrial and real estate sectors.

“Ackerman built a reputation as a premier brand in the industry, with a proven track record of growth and success,” Shore Capital Vice President Shannon Finocchi says in a statement. “We are confident we will accelerate their momentum and unlock new opportunities to better serve existing clients and future customers.”

The private equity firm plans to leverage Ackerman’s established market position and experience to expand its footprint, according to the statement. Shore will invest in the plumbing company’s infrastructure and team while implementing organic growth strategies and exploring new partnerships.

To support Ackerman Plumbing’s growth plan, Shore assembled a board that will be led by Shore partner and co-head of industrial services John Sznewajs.

“The Ackerman family built a strong culture and foundation for growth,” Sznewajs says in the statement. “We are thrilled to partner with the team to build the premier southeast commercial plumbing services provider.”

 

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