Houlihan Lokey Advises Marcone Appliance Parts

Houlihan Lokey is pleased to announce that Marcone Appliance Parts Co. (Marcone), a portfolio company of Sterling Investment Partners, LP (Sterling), has been acquired by Genstar Capital, LP (Genstar). The transaction closed on June 23, 2021.

Marcone is an authorized distributor for major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, LG, and many more. Through its vast distribution network, Marcone supplies the largest inventory of original replacement parts in the country for household appliances such as refrigerators, ranges, dishwashers, microwaves, washers, and dryers. Marcone exports globally and also operates a comprehensive training institute offering quality business and technical training. Headquartered in St. Louis, Marcone operates 113 facilities, has approximately 2,000 employees, and serves approximately 43,000 technician customers.

Sterling Investment Partners is a private equity firm that has been investing in and building middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 180 transactions, representing $19.6 billion in aggregate value.

Genstar Capital is a leading private equity firm that has been actively investing in high-quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, healthcare, and software industries.

Houlihan Lokey served as the lead financial advisor to Marcone and assisted in initiating, structuring, and negotiating the transaction on its behalf.

This transaction highlights Houlihan Lokey’s continued success advising market-leading specialty distributors with differentiated value propositions and technology solutions.