Harvest Partners SCF, LP Announces Investment in Marcone Supply
Harvest Partners SCF, LP (“HP SCF”), the non-control private equity strategy of Harvest Partners, LP, announced it has made an investment in Marcone Supply (“Marcone” or the “Company”), a Genstar Capital (“Genstar”) portfolio company. Proceeds from HP SCF’s investment were used to support Marcone’s acquisition of Munch’s Supply (“Munch’s”). Terms of the HP SCF investment were not disclosed.
Based in St. Louis, Missouri, Marcone is a leading distributor of OEM branded residential appliance aftermarket parts to approximately 20k customers. The Company was acquired by Genstar in July 2021 and is led by CEO Jim Souers. Marcone’s strategic combination with Munch’s, a distributor of HVAC equipment and aftermarket parts, creates a scaled “one-stop shop” distributor of residential parts and equipment with a North American footprint of over 100 facilities and a highly diversified customer base.
Steve Duke, Partner & Co-Head of HP SCF, said, “The combination of Marcone and Munch’s creates a leading distributor of mission-critical parts and equipment to approximately 40k customers servicing over 15 million homes annually. We are excited to partner with a strong management team and Genstar to support the Company’s continued expansion in the residential distribution market.”