LOVETT Inc. Strengthens Position in Plumbing Industry with Strategic Acquisition of Mike Patterson Plumbing*

PORTLAND, Ore., Sept. 12, 2023 /PRNewswire/ -- LOVETT Inc., a prominent leader in the construction services industry, proudly announces its strategic acquisition of Mike Patterson Plumbing, located in Gladstone, Oregon. This acquisition marks a significant milestone in LOVETT Inc.'s growth strategy, aimed at expanding capabilities and geographic footprint, while maximizing operational efficiency.

The primary objective of this acquisition is to augment the recent success of LOVETT Inc.'s acquisition of Kruse Plumbing in Vancouver, Washington. By integrating the operations of Mike Patterson Plumbing and Kruse Plumbing, LOVETT Inc. is poised to unlock unprecedented economies of scale and streamline backend operations. This consolidation paves the way for enhanced cost savings and a more seamless and comprehensive customer experience.

LOVETT Inc.'s focus on delivering a fully comprehensive solution for our customers is further advanced by this strategic move. "We are thrilled about this very important step towards consolidation and the efficiencies both organizations will see from the acquisition.  This also goes a long way toward  supporting our commitment of five-star service for our customers," expressed Gary Cosmer, Chief Executive Officer of LOVETT Inc.

Dale Lovett, Founder and Chairman of LOVETT Inc., stated "We are on the move to strengthen and grow plumbing in Oregon and SW Washington. The acquisition of Mike Patterson Plumbing combined with our recent acquisition of Kruse Plumbing in Washington does just that. We will continue our path of growing and bringing customers the experience and culture of LOVETT within all our companies."

Ryan Kruse, General Manager of Kruse Plumbing, "Mike Patterson Plumbing's has an outstanding reputation and presence in the plumbing community. I am excited to be able to share our strategies, learn from each other and continue to grow our companies in the right direction."

Bryan O'doherty, General Manager of Mike Patterson Plumbing, "We are very excited to join the Lovett Family of Companies. We are especially excited for the increased resources and capabilities that both the customers and employees will benefit from through the combination of Kruse and Mike Patterson Plumbing."

With the inclusion of Mike Patterson Plumbing into the LOVETT Inc. family, the company sets its sights on extending its influence within the plumbing industry across the Willamette Valley and Southwest Washington. This acquisition solidifies LOVETT Inc.'s position as a key player in the plumbing sector, poised to make a positive impact on both the industry and the communities it serves.

ABOUT LOVETT Inc:
Lovett is a construction services company providing excavation, directional drilling, plumbing, drain cleaning, vac-truck, and stormwater services. The company serves the greater Portland and SW Washington metro areas by providing a multitude of construction services specializing in emergency services, project consultation, building maintenance, service repair and installation. www.lovettservices.com

ABOUT KRUSE PLUMBING:
Kruse Plumbing is a family operated plumbing company serving SW Washington and the Portland Metro Area.  Kruse Plumbing specializes in new construction and building improvement projects and is extremely knowledgeable in every aspect of the plumbing trade with over 50 years of experience in the plumbing field. www.chkruseplumbing.com

ABOUT MIKE PATTERSON PLUMBING:
At Mike Patterson Plumbing, we take pride in offering top-notch plumbing solutions tailored to meet your unique needs. With a commitment to excellence and customer satisfaction, we have been serving the West Linn, Oregon community and beyond for 25 years. Our team of skilled professionals bring a wealth of experience and expertise to every project, ensuring efficient, reliable, and lasting plumbing solutions.

For media inquiries and further information, please contact:

Aaron Sawyer
Director of Sales & Marketing
Lovett Inc.

503-752-8544
[email protected]

*Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts, and assumptions involving risks and uncertainties that could cause actual outcomes to differ materially. LOVETT Inc. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

SOURCE Lovett Inc.