Grove Mountain Partners acquires majority stake in Plimpton and Hills

PE firm Grove Mountain Partners acquired a majority stake in 125-year-old plumbing/HVAC wholesale distributor Plimpton and Hills, with the Hills family retaining equity and board seats. Debt financing came from Ares Management credit funds and PennantPark.

“Grove Mountain Partners, a leading private equity firm specializing in investments in home service companies and specialty business service companies, announces the acquisition of a majority stake in Plimpton and Hills, the premier wholesale distributor of plumbing and HVAC equipment in Connecticut and adjacent geographies.”

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