Thomas Werner, CEO of Kassel Enterprises, Inc. (above), announced the acquisition of Gutridge Plumbing, Inc., a plumbing, HVAC, and fire suppression contractor in Central Ohio. The Dublin-based real estate investment and private equity firm added Gutridge to its growing private equity portfolio, which includes Haslett Mechanical, Gorilla Dumpsters, Excel Facility Maintenance, Ohio Industrial Equipment and High Lands Golf Club.
“The acquisition of Gutridge Plumbing further increases Kassel’s share in the mechanical contracting market in Central Ohio, and will support our growth into Licking County. Kassel will leverage its existing market share along with Gutridge’s infrastructure and brand recognition to strengthen our ability to focus and serve new and existing customers,” said Werner. “The transition of ownership will be a gradual process. Current owners, Wayde and Rod Gutridge, have agreed to stay on for 5 years and Lane Hartfield, nephew of Wayde and Rod, will continue to play a pivotal role at Gutridge. Their knowledge and continuing presence will provide stability during the integration phrase.”