Leading Plumbing Service Located in the Southeast

Pipe (“Pipe” or the “Company”) is a leading plumbing service provider. The Company’s revenue comes from 60% service and 40% new construction. The Company’s customer mix is 65% residential and 35% commercial plumbing services. Services include Emergency Plumbing, New Construction, Service Plumbing, Water Heater, Sewer Line, and Water Line. The Company offers services 24 hours per day, 7 days per week, and 365 days per year. A team member is typically deployed within two hours of a phone call, even if received after hours. The Company works with clients in end markets including Property Management, Education, Parks, Restaurants, and New Construction. The Company has more than 14 years of experience working with many blue-chip clients. The Company serves a regional customer base and has worked to further penetrate additional markets by hiring two new technicians and purchasing two new vans. The Company projects each technician will generate $330K in incremental revenue and $180K in additional net income. Through Covid-19, the Company showed resilience with both revenue and SDE increasing YOY for the past three years. Pipe’s 2021 revenue and adjusted SDE is $4.24 million and $0.65 million, respectively.