March 27, 2024: Indianapolis-based private equity firm CID Capital (“CID”) announced the merger between portfolio companies Wiseway Supply and Park Supply, two prominent leaders in the plumbing and electrical wholesale distribution industry.
The combined entity is positioned as a formidable and highly diversified super-regional distributor with an enhanced product portfolio and strong growth potential. With a dynamic management team at the helm, the combined company will build on previously established foundations to deliver significant value to employees, customers, and shareholders.
“This merger underscores our commitment to investing in strong, market-leading companies and supporting their organic and acquisition growth trajectories,” said Cory Heck, Partner, CID Capital. “Together, Wiseway Supply and Park Supply will benefit from synergies in distribution networks, product offerings, and operational best practices, positioning the combined entity for long-term success."
“Our decision to merge Wiseway Supply and Park Supply is reinforced by the exceptional management teams within both organizations. Together, we have assembled a dynamic group of individuals who possess the industry knowledge to foster growth moving forward,” said Eric Derheimer, Partner, CID Capital.
In conjunction with closing the merger, Mark Christie will lead the combined business as CEO under CID's ownership. “This merger represents an exciting chapter in our journey toward greater growth and innovation” Christie added. “These are two excellent companies that are highly regarded for their obsession with customer service, partnership with key suppliers, and tailoring solutions to meet their customers’ specific needs. By joining forces, we are confident that we can create even more value for our customers and stakeholders.”
Working alongside Cory Heck and Eric Derheimer on the merger for CID were Eric Bruun, Partner, Chase Williams, Vice President, and Ryan Cutter, Vice President. Please reach out to Ryan Cutter to discuss the merger or potential new investment opportunities.
About Wiseway Supply
Founded in 1972 and headquartered in Florence, KY, Wiseway Supply is a leading value-added distributor of electrical, plumbing, and lighting supplies to residential and commercial contractors. Wiseway Supply operates eleven strategically positioned locations throughout Ohio, Kentucky, and Indiana. Following CID's investment, the Company has completed two add-on acquisitions.
About Park Supply
Founded in 1963 and headquartered in Huntsville, AL, Park Supply is a leading wholesale distributor of plumbing supplies and products. Park Supply operates in four locations strategically positioned throughout Alabama. Following CID’s investment, the Company has completed one add-on acquisition.