Acquisitionverified
Wrench Group acquires Tampa's Red Cap Plumbing & Air
What happened. Wrench Group, then operating 17 brands in 12 markets from a Sarasota headquarters, acquired Red Cap Plumbing & Air of Tampa. Red Cap had operated since 2003, employed 105 people and served about 75,000 Tampa Bay customers. Terms were not disclosed. CEO Ken Haines called Red Cap a natural complement to Wrench's other Florida brands, and Red Cap president John Gennaro cited access to Wrench's technology and operations support. The brand was retained.
Parties
- Company
- Red Cap Plumbing & Air · Tampa, Hillsborough County
- Buyer
- Wrench Group
- Capital
- Leonard Green & Partners
- Price
- Not disclosed
- Employees
- 105 at announcement
The name on the truckRed Cap Plumbing & Air
Tampa, Hillsborough County
Operating ownerWrench Group
Sarasota, FL
Capital behind it
Leonard Green & Partners
Los Angeles, CA
Other Tampa Bay brands under Wrench Group: CoolToday (N&M Cooling and Heating, Inc.), Easy A/C.
What this kind of deal tends to mean for customers and staff: pricing · sales pressure · technicians · the exit clock.
Sources Verified — primary document
- Wrench Group (2021-04-20) — platform site. Primary announcement with all figures and quotes
- Business Wire (2021-04-19) — press release. Wire version
- Contractor (2021-04-20) — trade press. Trade coverage
Researcher notes: Wrench was owned by Leonard Green & Partners at this date; TSG Consumer and Oak Hill joined in November 2022.
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