Core & Main LP, based in St. Louis, Missouri, announced it has closed its previously announced deal to buy of Pacific Pipe Company, Inc., which is based in Hawaii. Financial terms of the deal weren’t available.
The close of the deal, which was first announced early last month, was Core & Main’s 13th acquisition since becoming an independent company in 2017.
“The acquisition of Pacific Pipe expands Core & Main’s geographic footprint to Hawaii in partnership with an outstanding team,” said Steve LeClair, chief executive officer of Core & Main. “Core & Main and Pacific Pipe share a commitment to helping communities with sustainable water infrastructure. We look forward to growing together and learning how we can make a positive impact throughout the local communities in Hawaii.”
Based in Hawaii, Pacific Pipe Company, Inc., has four locations and serves municipalities and contractors in the water, wastewater, storm drainage and irrigation industries throughout Hawaii.
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). Last month, Core & Main launched the roadshow for its IPO. Core & Main Inc is targeting a valuation of up to $7.5 billion in its IPO, according to a story by Reuters.
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.