Gryphon Investors-Backed Repipe Specialists Acquires A-1 Total Service Plumbing

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Jan 16, 2025, 07:00 ET

Expanding Capabilities in Residential, Multi-Family, and Commercial Plumbing and Piping Solutions

BURBANK, Calif., Jan. 16, 2025 /PRNewswire/ -- Repipe Specialists ("Repipe"), a leading residential and commercial piping and water services company, announced today that it has acquired A-1 Total Service Plumbing ("A-1" or the "Company"), a Los Angeles area provider of residential, commercial, municipal, and industrial plumbing and lining services. Repipe is backed by middle market private equity firm Gryphon Investors. Terms of the transaction were not disclosed.

Founded in 2004 and headquartered in Los Angeles, CA, A-1 is a full-service provider of traditional residential and commercial plumbing services along with lining and pipe rehabilitation services. The A-1 management team will remain with the Company, and founder and owner Raymond Gray is retaining a significant ownership stake.

"We are thrilled to add A-1 to the growing Repipe team," said Repipe's CEO Jay Teresi. "A-1's strong expertise in plumbing and lining services perfectly complements Repipe's nationwide capabilities. This partnership expands our service offerings, enhances our technical expertise, and allows us to deliver more comprehensive one-stop solutions for our customers. Ray and the A-1 team share our core values, purpose, and vision: delivering high-quality piping systems and plumbing services that provide clean, clear flowing water essential to everyday life."

"As we considered our options, joining forces with Repipe and Gryphon was the obvious choice given their added financial and operational resources, national reach, and complementary service offerings," said Mr. Gray. "Repipe has an unmatched reputation as the premier player in the market, and we are excited for our customers and employees to benefit from the comprehensive product and service portfolio this combination offers."

A-1 marks the first add-on acquisition that Repipe has made since being acquired in 2022 by Gryphon's Heritage Fund, the firm's small-cap investment strategy. Repipe is actively seeking to partner with additional businesses to further expand its premium portfolio of brands and products.

"Our aim is to be the premier provider of residential and commercial piping, lining, and plumbing services, and this acquisition helps achieve our goals," said Jeff Pembroke, operating partner and co-head of Gryphon's Heritage Fund. "We look forward to continued and accelerated growth as a result of this acquisition."

About A-1 Total Service Plumbing
Founded in 2004 by Raymond Gray and headquartered in Los Angeles, CA, A-1 is a leading full-service provider of plumbing and lining services. The company operates in two segments: service plumbing and repair, and lining and pipe rehabilitation. Known for its superior quality service, A-1 has built a strong reputation for plumbing and lining services across California, Nevada and Arizona, while offering commercial lining services nationwide.

About Repipe Specialists
Founded in 1991 and headquartered in Burbank, California, Repipe Specialists is a market leader in residential, multi-family, and commercial repiping. With their proven One-Stop Repipe™ process, they complete installations in just 1–2 days using high-quality materials backed by a lifetime warranty. Having repiped over 75,000 properties in more than 30 years, they are a nationally recognized leader and locally trusted for their efficient and reliable service. For more information, visit www.repipe.com.

About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon's highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon's three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon's targeted investment sectors.