Monumental Supply, which specializes in the distribution of pipe, valves, and fittings, was acquired by Phoenix, AZ-based Venturi Supply.
COLUMBIA, MD – April 30, 2024 – Tower Partners announced today that it has successfully executed the sale of Monumental Supply Company, a Baltimore-based business specializing in the distribution of pipe, valves, fittings, and other industrial parts throughout the Mid-Atlantic region.
Monumental, which has been in operation for more than 74 years, was acquired by Venturi Supply, a Phoenix, AZ based company with locations across the country. Venturi will retain Monumental’s more than 40 workers and its executive team. Terms of the deal were not disclosed. Venturi is backed by Dallas-based private equity firm Trive Capital.
“This is a great deal that we are proud to lead,” said Ervin M. Terwilliger, CEO and founder of Tower Partners, a lower middle market investment bank with a focus on family, founder, and entrepreneurial-led businesses. "More than 100 parties expressed interest in Monumental and within just three months of Tower Partners initial conversations with buyers, the deal with Venturi was completed.”
Tower Partners worked alongside Monumental to execute the seller’s objectives.
"When we first met the owners of Monumental, they explained to us their specific desires: confidentiality, brand legacy, employee retention and value maximization," said Erik Endler, Head of M&A and Managing Director. “We formed a strong partnership and delivered on every aspect to make certain Monumental was sold to a buyer that put a premium value on the Monumental brand, legacy and employees.”
"Opportunities like Monumental are what the acquisition market is looking for,” added Terwilliger. “We're excited about what our team was able to do for Monumental, we're even more excited about what it says about the market looking forward.”
Monumental’s business has been strong, but the second-generation owners were excited to transition the business to owners that would build upon Monumental’s success. They also wanted to leave employees in good hands with an experienced operator, Terwilliger said.
Terwilliger said that from start to finish the deal moved quickly.
“The business was so well-positioned that buyers sprinted toward it,” said Terwilliger. “We have the systems and horsepower to capitalize on any market dynamic. The management team at Monumental was amazing, and our colleagues at Offit Kurman and Ellin &Tucker were instrumental in the success of this deal.”
Monumental Supply was represented by Timothy C. Lynch, President of the law firm of Offit Kurman, and the accounting firm of Ellin & Tucker.
Since its start in 2008, Tower has completed more than 300 deals. The firm also has a national footprint, international reach, and is paired with a broad network of local connections that can be quickly leveraged.
Terwilliger sees a robust pipeline for deals in 2024. “The lower middle market remains strong,” Terwilliger said. “We anticipate remaining very busy for the balance of the year.”
About Monumental Supply Company
Started in 1950 by Robert Kirchner, Monumental Supply Co. is a leading distributor of pipe, valves, fittings, elevator, fire and other plumbing and HVAC supplies in the Mid-Atlantic region. Monumental serves an array of business segments that include manufacturing, medical, education, utility and government. The company has more than 40 employees.
About Venturi Supply
Venturi Supply is a leading independent value-added distributor of pipe, valves, fittings, engineered products, and industrial supplies backed by Trive Capital, a Dallas, Texas-based private equity firm. The company is the result of the acquisition of six individual PVF distribution businesses that include BPS Supply Group, Producers Supply Company, Tri Star Industrial, Ameripipe Supply, Industrial & Construction Enterprises, and Albuquerque Pipe & Pump Supply.
About Tower Partners
Headquartered in Columbia, MD, Tower Partners is the premier private investment bank servicing the lower middle market. Tower’s team has completed engagements with more than $15 billion in transaction value. It specializes in providing Wall Street level investment banking to main street, with a focus on family, founder, and entrepreneurial-led businesses in the lower middle market. The company has offices in Columbia, MD, Baltimore, MD, New York, NY, and Denver, CO.
FOR MORE INFORMATION:
Bill Atkinson | 443-797-4150 | bill@atkinsonstrategic.com