SupplyHouse lands private equity investment

HVAC-focused e-commerce distributor SupplyHouse has received a strategic investment from private equity giant KKR, the company announced Thursday morning. No financials were disclosed.  

Why it matters: The deal marks a continued trend of institutional capital flowing into the distribution layer of the HVAC industry. 

What they’re saying: “KKR’s experience and long-term vision align with our goals to expand our operations and enhance our service while maintaining our culture,” said SupplyHouse founder and CEO Josh Meyerowitz.

• “Josh and the SupplyHouse team have developed a differentiated, vertical-focused e-commerce model that delivers meaningful value to customers and has driven an exceptional track record of organic growth,” added Brandon Brahm, a partner at KKR.

Zoom out: Founded in 2004, New York-based SupplyHouse serves HVAC, plumbing, and electrical contractors through its e-commerce platform, which carries over 250,000 SKUs from more than 500 brands. It’s served over seven million customers to date. 

• The company operates four fulfillment centers across the country, enabling it to reach 98 percent of the U.S. population within two days, it says, along with a loyalty program including free shipping. 

Looking ahead: While the specific use of funds wasn’t disclosed in the announcement, Meyerowitz tells Homepros in a statement that the company is focused on expanding its fulfillment centers and bolstering its team. A representative for KKR declined to comment.

Editor’s note: This article has been updated with additional information.