Mainline Supply Company Acquires Eagle Underground Utility Supply Company
Chicago – Code Hennessy & Simmons LLC (“CHS”) announced that Mainline Supply Company (“Mainline”) has acquired Eagle Underground Utility Supply Company (“Eagle”). Mainline is a portfolio investment of CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005.
Founded in 2003, Eagle is a distributor of underground infrastructure products with one branch located in Dallas, Texas. Eagle serves the residential, commercial and municipal waterworks end markets in Texas with a diversified product offering of PVC and ductile iron pipe, valves, fittings, fire hydrants and storm sewers.
Mike Costello, President of Eagle, said, “We look forward to the opportunities and resources Mainline will provide. With Mainline’s strong position in the waterworks industry, we are confident we can offer our customers a more comprehensive line of products and a higher level of customer service.”
Headquartered in Charlotte, North Carolina, Mainline is one of the leading wholesale distributors of underground infrastructure products in the Southeast. Mainline specializes in underground water, sewer and drainage utility products that transmit potable and non-potable water to treatment plants, storage towers, pumping stations and ultimately, to homes and businesses. The company’s customer base includes municipalities, developers and utility contractors involved in residential, commercial and municipal construction projects. Mainline distributes nearly 9,000 SKUs to approximately 1,800 customers through 19 branch locations in eight states in the Southeast and Mid-Atlantic regions. For additional information about Mainline, please refer to the company’s website at www.mainlinesupply.net.
Tim Tysinger, CEO and President of Mainline, said, “We welcome Mike Costello and his team to Mainline. We remain committed to our growth strategy through geographic expansion, new product introductions and complementary acquisitions. The addition of Eagle’s strong branch management team and extensive relationships in the market provide an excellent platform for future expansion in Texas.”
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at www.chsonline.com.