ProSource Acquires Marion Davis
Indianapolis-based private equity firm CID Capital (“CID”) announced that its portfolio company, ProSource, LLC has acquired Marion Davis, Inc. Terms of the deal were not disclosed.
Founded in 1996, ProSource is a wholesale supplier of plumbing, lighting, and hardware with multiple locations in the Carolinas. Marion Davis, with two locations in the Upstate of South Carolina, expands ProSource's existing plumbing and lighting capabilities and adds electrical supplies to the Company's broad product assortment
|"This acquisition was an important part of our growth strategy. We are proud to be based in the Carolinas, and we are excited to provide our customers with additional resources in our own backyard," said Drew Roberts, CEO of ProSource.
"Our family has a long history of service in this business and we are excited to partner with a company that shares the same commitment and customer focus as we do," said Bob Watson, CEO of Marion Davis.
Marion Davis will be rebranded to ProSource after a transition period.
Eric Bruun, Partner, and Cory Heck, Managing Director, led the transaction for CID. Ice Miller acted as legal counsel to CID in this transaction.
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