As it prepares to go public, Core & Main LP, based in St. Louis, Missouri, announced it has entered into a definitive agreement to acquire Pacific Pipe Company, Inc.. Core & Main’s latest deal is its 14th transaction since becoming an independent company in 2017.
Pacific Pipe has been in operation since 2011, serving municipalities and contractors with a broad waterworks product offering. Pacific Pipe operates three locations across the islands of Hawaii, Maui, and Oahu. The company distributes materials for construction projects in the agriculture, golf, irrigation, and municipal waterworks industries throughout Hawaii.
“Pacific Pipe is a significant player in modernizing and expanding water infrastructure in Hawaii. Upon closing this transaction, Core & Main will expand its geographic footprint to a new state and learn from a team that has an outstanding reputation for quality products and excellent customer service,” said Core & Main CEO Steve LeClair. “This acquisition aligns with our core principles, where team members are family, and our job is to help the communities thrive.”
In May, Core & Main, which is ranked No. 10 on MDM’s 2021 Top 40 Distributor list, announced that it planned to go public after filing paperwork with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO).
Core & Main, which is a distributor of water, wastewater, storm drainage and fire protection products, was sold by HD Supply in 2017 to private investment firm Clayton, Dubilier & Rice for $2.5 billion. Core & Main’s specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure.