TREP Advisors, LLC, a top 25 mergers and acquisitions (M&A) advisory firm, recently facilitated the successful merger and acquisition of Piedmont Plumbers by Strada Services. This case study highlights TREP’s commitment to finding the ideal partner for their clients and ensuring a seamless transaction process.
Background
Piedmont Plumbers is a leading provider of plumbing services for new construction and residential homes across the Carolinas. With 300+ employees and a strong market presence, the company sought a strategic partner to support its growth initiatives. Meanwhile, Strada Services is a prominent full-service contractor specializing in electrical, security, HVAC, and low-voltage services for residential, commercial, and industrial customers in the Southeastern United States.
Challenges Faced
The merger and acquisition posed unique challenges, including accommodating Piedmont Plumbers’ three owners’ diverse objectives, finding a compatible partner aligned with their specific service offerings, and navigating the complexities of the construction and service industry. Vetting potential suitors while ensuring a fair deal for both companies added further complexity to the transaction.
TREP’s Approach
TREP’s involvement in the transaction stemmed from a referral, emphasizing the power of solid client relationships and word-of-mouth referrals in the M&A advisory industry. The firm’s founder, Jeff Piersall, and his team, including Compliance Director Heather Nicole and Financial Analyst Santiago Ortega, meticulously managed the entire process, from the initial discussions to the final agreement. TREP’s commitment to meeting the unique needs of each party involved and their dedication to finding the ideal partner set the stage for a successful outcome.
Jeff Piersall, CEO of TREP, says, “There is a satisfaction in consulting, a sense of well-being in knowing that you’ve helped someone achieve what they wanted. Each case is like putting together a complicated puzzle: moving pieces around, looking for how they fit, problem-solving, and emotional management all play a part. Yes, the merger or acquisition has a scientific or mathematical side, but it’s more psychological. We consider it a cooperative and collaborative process based on earned trust.
Quality Partnerships
TREP recognized the importance of leveraging quality partnerships to facilitate a seamless transaction. By collaborating with trusted accounting and legal partners, TREP ensured that Piedmont Plumbers and Strada Services had access to comprehensive support throughout the deal, demonstrating thoroughness and care. The referral to an attorney and meticulous accounting assistance underscored TREP’s commitment to providing holistic guidance and support to their clients.
Outcome
The successful merger and acquisition not only met the objectives of Piedmont Plumbers and Strada Services but also positively impacted their respective employees. The new partnership created professional growth and development opportunities, and the shared resources and expertise enhanced the working conditions. TREP’s unwavering dedication to understanding the unique needs of each business and aligning them with a compatible partner culminated in a mutually beneficial agreement. By providing guidance and support and leveraging its network of quality partners, TREP facilitated a deal that exceeded expectations and paved the way for future growth and success.
“TREP was with us every step of the way,” said Piedmont Co-Owner Randy Beaty Jr. “They knew what we wanted and why from a deal. They did not stop until they found it. Jeff and his team delivered everything we expected and more.”
By leveraging quality partnerships and unwavering dedication, TREP continues to significantly impact the M&A advisory landscape, creating opportunities for transformative and mutually beneficial deals that shape the future of businesses. Learn more about how TREP can help find the right solution for you and your business.