ProSource Acquires Southern Distributing Co. of Lake City
April 1, 2024GREENVILLE, SC – ProSource, a leading value-added wholesale distributor of plumbing supplies and other related building products throughout the Southeast, announced that it has acquired Southern Distributing Co. of Lake City (“Southern Distributing”).
Based in Lake City, South Carolina, Southern Distributing has been servicing the Lowcountry and Midlands since 1972. Southern Distributing excels as a premier provider of plumbing and electrical supplies, ensuring unparalleled customer service that not only meets its customers’ supply requirements but anticipates their needs, while nurturing strong and lasting relationships.
Robbie Steele, President and Owner of Southern Distributing added, “We’re enthusiastic about teaming up with Drew and the ProSource team to provide our current customers with a wider range of products across a larger geographic area. We fully support the ProSource vision and are excited about the accomplishments we’ll achieve in partnership.”
Drew Roberts, CEO of ProSource, commented on the acquisition, “After getting to know the Steele family over the past year, it became evident early on that our philosophies and overall approach to business aligned and that both organizations would benefit from our combined resources. The acquisition of Southern Distributing aligns with our strategy of becoming the preferred supplier to contractors in the Southeast. Robbie and his family have built a powerful company over the last fifty years, bringing a unique and valued style that will benefit the entire ProSource organization.”
Southern Distributing will be rebranded to ProSource after a transition period.
About ProSource
ProSource (https://prosourcesupply.com) is a leading value-added wholesale distributor of plumbing supplies and other related building products throughout the Southeast. The Company is headquartered in Greenville, South Carolina and employs over 150 full-time employees across eleven facilities. ProSource and Blue Sea Capital partnered in 2022.
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $300 million. The firm has over $1.4 billion in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented leaders and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.