Founded in 1988, Power Plumbing, Inc. is the largest multi-family new construction plumbing installer in the state of Texas, and one of the largest in the nation. Their core customers are the general contractors active in the multi-family arena. Since its inception, the company has completed more than 800 major projects accounting for more than 175,000 living units. And it’s just getting started.
In 2015, Power Plumbing solicited Fieldstone to help ownership convert the company to a 100% ESOP (Employee Stock Ownership Plan). Fieldstone advised Power Plumbing on their debt financing and helped structure the transaction.
Power Plumbing has gone on to realize considerable growth. Today, the company’s service area stretches across Texas and revenues now exceed $60 million. The original management group remains intact, with additional talent and resources having been added to round out the senior team. And just a few years removed from the milestone ESOP that harnessed and rewarded the passion of the company’s employees – Power Plumbing is a financially stronger company, driven by a more motivated team, benefitting from increased pricing leverage, with the resources to deliver even greater value to its customers.