KKR invests in e-commerce distributor SupplyHouse

KKR (NYSE: KKR) has made a strategic investment in SupplyHouse, an e-commerce platform that distributes HVAC, plumbing, and electrical products, according to a press release statement. The financial terms of the investment were not disclosed.

Founded in 2004, SupplyHouse operates a proprietary e-commerce platform and has served over 7 million customers across the United States. The company offers more than 250,000 SKUs from over 500 brands and operates a national fulfillment network that can reach 98% of the U.S. population within two days. SupplyHouse employs approximately 1,200 team members.

KKR is making the investment through its Ascendant Strategy, which focuses on middle market businesses in North America as part of KKR's Americas Private Equity platform. The investment firm specializes in alternative asset management and capital markets solutions.

"We are excited to welcome KKR as a strategic partner, especially given our shared values around cultivating a 'team first' mindset," said Josh Meyerowitz, founder and CEO of SupplyHouse. "KKR's experience and long-term vision align with our goals to expand our operations and enhance our service while maintaining our culture."

Brandon Brahm, partner at KKR and co-head of KKR's Ascendant Strategy, stated that the firm is "excited by the compelling culture Josh has fostered at SupplyHouse that puts employees and customers at the center."

As part of the partnership, SupplyHouse plans to collaborate with KKR to ensure all team members continue to share in the company's future success. The company operates a TradeMaster loyalty program for professional customers.

Evercore served as exclusive financial advisor to SupplyHouse, while Baird advised KKR on the transaction.

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