Latest ABC Electric News
Apr 4, 2019
Soundcore-backed PumpMan acquires ABC Electric Corp April 4, 2019 PRESS RELEASE NEW YORK, April 2, 2019 /PRNewswire/ — PumpMan, a leading nationwide provider of pump service and repair and a portfolio company of Soundcore Capital Partners, successfully completed its tenth acquisition with the addition of Astoria, New York-based ABC Electric Corp. This is PumpMan’s second New York City acquisition and complements its December 2017 purchase of Brooklyn-based PumpMan NYC (formerly Federal Pump Service & Repair). “ABC Electric Corp. continuously strives to be the most responsive and knowledgeable provider of service and repair for electric motors, variable frequency drives, and electro-mechanical controls for the commercial, industrial, and OEM markets in New York City,” said Ivano Riccoboni, President of ABC Electric Corp. “This acquisition provides the opportunity to combine forces with another longstanding NYC service and repair company, invest for growth, and offer increased capabilities to the customers in New York City and the surrounding area.” Serving New York City’s five boroughs, Lower Westchester county, Long Island, and Northern New Jersey, ABC Electric Corp. dispatches knowledgeable, factory-trained technicians to conduct an array of field services such as motor rewind, pump repair, and electro-mechanical troubleshooting. “With the combined experience and expertise that comes from PumpMan NYC’s Brooklyn location and ABC Electric Corp., our commercial, industrial, and municipal customers have access to an incredible organization with the critical tools needed to be the best and most capable provider of comprehensive pump and electrical services in the New York City metropolitan region,” said Donald Devine, President and CEO of PumpMan. The founders of ABC Electric, Ivano Riccoboni and Atys Papageorge, will be succeeded by Sal Piascik, previously ABC’s service manager, who has been promoted to Business Unit Manager of ABC PM LLC. About PumpMan Holdings LLC PumpMan is a leading nationwide provider of pump service and repair. The Company focuses on serving the needs of pump end-users to optimize the performance and reliability of their pumping systems. With roots in Southern California, PumpMan provides onsite service, repair, parts and expertise to the commercial, municipal and industrial markets in Southern California (PumpMan SoCal), Northern California (PumpMan NorCal) Philadelphia (PumpMan Philly), Phoenix (Southwest Waterworks Contractors & Scott’s AZ Electric Motor Repair), Pittsburgh (PumpMan Pittsburgh), and the New York Metro Area (PumpMan NYC). PumpMan seeks to expand its service network by acquiring well established pump sales, service and repair companies in major markets in North America. For more information, visit www.pumpman.com. About Soundcore Capital Partners LLC Soundcore Capital Partners, LLC, founded in 2015, is a New York City-based private investment firm specializing in control equity investments and leveraged buyouts of lower middle market North American (U.S. or Canada) headquartered businesses. For more information, visit http://www.soundcorecap.com.