Pacific Plumbing Supply Co. announced it has agreed to sell its Hawaii operations to plumbing supply wholesaler PACE Supply. PACE Supply was listed as No. 29 on the 2016 Supply House Times Premier 150. Pacific Plumbing Supply —No. 82 on the Premier 150 rankings — employs 179 people in Washington, Alaska and Hawaii, and has operated in Hawaii since 1977.
PACE Supply, which already had significant business operations in Hawaii, will take over Pacific Plumbing Supply’s three Hawaii locations and offer employment opportunities to the existing team of 25 Hawaii-based employees.
“This acquisition is a major opportunity to build on our existing Hawaii business and continue the strong relationships that Hawaii Pacific Plumbing Supply and their employees have built,” said PACE Supply CEO Ted Green. “In addition to continuing Hawaii Pacific Plumbing Supply’s operations, we’ll be investing even more by building a 40,000 square foot distribution center in Waipahu.
PACE Supply and Pacific Plumbing Supply have been discussing the sale of Hawaii operations since early 2016. The sale is expected to be finalized during the summer of 2016.
“This is a win for both companies, for our customers, and for all of our employees,” said Larry Solomon, CEO of Pacific Plumbing Supply. “The sale will allow us to focus and redeploy resources on improving and growing our thriving businesses in Alaska and Washington, while also ensuring that our Hawaii employees will have the opportunity to continue working for a company with similar core values and a history of great customer and employee relationships, with a genuine stake in the community.”
As the sale date approaches, Pacific Plumbing Supply and PACE Supply will work closely to ensure a smooth transition for employees and customers alike. As part of the acquisition, Tom Powers, a Pacific Plumbing Supply vice president, and director of Hawaii, will join Pace Supply as director of Hawaii operations, and he will relocate to Hawaii to lead the team.