Jun 2022 | California

Generational Equity Advises Plumbing Master in its Investment by Newlook Capital

We are pleased to share an investment by Newlook Capital, Inc. in our client, Plumbing Master, Inc. The investment closed June 2, 2022.

Located in Riverside, California, Plumbing Master (PM) is a commercial plumbing expert in sewer lines, sewer laterals, sewer connections, and trenchless technology. All of its technicians are experts in commercial plumbing, but not limited to:

  • Installing water heaters and faucets;
  • Repairing and replacing toilets;
  • Water main lines;
  • Gas lines;
  • Slab leaks;
  • And much more.

PM generates a significant portion of its revenue from emergency repair with the remainder from scheduled maintenance. Plumbing Master’s owner, Andy Lozano, remains as equity holder and will continue to lead PM’s nearly 100 employees in day-to-day operations.

Newlook Capital (Newlook), located in Burlington, Ontario, Canada, is a private equity firm that currently manages two industry-specialized funds. Each fund has its own focused, experienced, and aligned management, and a defined strategy.

Investing throughout Canada and the United States, with a preference for companies that exhibit a solid tangible assets base, Newlook is focused on, and current holdings include, industrial services in Canada and the United States, dental practices in Canada, and QSR in Canada.

Newlook seeks businesses that enjoy a distinct competitive advantage or have an established position in an industry that exhibits barriers to entry. Consolidation opportunities are of particular interest to them. Newlook targets acquisitions with earnings before interest, taxes, depreciation and amortization (EBITDA) between $1 million and $5 million.

“Andy has built an incredible business and we are extremely pleased to be partnering with him and further growing the company,” says Newlook’s CEO, Elroy Gust.

Gust added, “With this most recent partnership, we look forward to expanding the diversification of our revenue lines within our portfolio. With superior industry reputation and strong customer relationships, Plumbing Master is well positioned for growth.”

Andy Lozano, President of Plumbing Master stated, “I made a decision to transition the business in order to find an Investor with the resources, business expertise, and scale to manage and augment the rapid growth of the business. I found all of these in Newlook Capital and I look forward to the continued growth of Plumbing Master with their partnership.”

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham, and his team, led by Sr. Managing Director – Western Region, Lori Galloway, closed the transaction. Senior Managing Director Ashok Tandon established the initial relationship with PM.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Engineering, Contracting & Construction page.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Industrials page.

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