Suffering Private Equity in Greenwich, CT

[Geoff Coenen]

Got this email from RPIU:
“Urgent - RPUI Surcharge Announcement”.

Essentially they whine about –
“We’ve spoken with others from around the industry and believe the increases the industry is facing on inbound freight cost is between 300-400%. With these increases, businesses are forced to evaluate the impact.

At this time RPUI is announcing an order/invoice surcharge, that will equal 5% of the value of the goods on each invoice.”

RPUI – is the parent company for Trim Parts, PUI, First Place Auto, The Right Stuff Detailing, SoffSeal and Flatline Barriers.

RPUI is owned by Dubin Clark & Company, Inc., a “leading private equity firm” headquartered in Greenwich, Connecticut.

In addition to RPUI, Dubin Clark & Company owns:

Affordable Water Heaters & Plumbing, Inc.

CE Rental = Festive Fare; Capitol Party Rentals, Skyline Tent Co;
Liberty Party Rentals; Eventhaus, Distinctive Event Rentals.

DPI Off-Road Brands = Bumper Super Store, HCR, Tuff Country, RevTek Suspension, Nitro Gear & Axle.

Euro Motorparts Group = EMPI Inc, 034Motorsport, RacingLine Group.

InProduction = T^B Equipment, Seating Solutions, CommuniLux Productions, Nussli.

IRocker

Greenwich Demographics – very common for “private equity”
White: 83.41% - Asian: 7.63% - Black or African American: 3.66% - Two or more races: 2.86%

Greenwich, Connecticut Population 2021 approx 60,000
What is the average income in Greenwich CT?
Median household income (in 2019 dollars), 2015-2019 $152,577
Per capita income in past 12 months (in 2019 dollars), 2015-2019 $101,619
Median value of owner-occupied housing units, 2015-2019 $1,251,200

Current Greenwich Zillow Real Estate for sale – 5 lowest + 5 highest

$199,774 condo 675 sq ft 1bed + 1 bath --- a real value
$320,000 condo 668 sq ft 1bed + 1 bath
$325,000 condo 585 sq ft 1bed + 1 bath
$339,000 condo 420 sq ft 1bed + 1 bath
$419,000 condo 714 sq ft 1bed + 1 bath

$29,997,000 house 13,343 sq ft 7 bed + 13 bath - more toilet than beds
$30,000,000 house 18,068 sq ft 11 bed + 11 bath ??? FOS ???
$32,000,000 house 23,700 sq ft 6 bed + 12 bath
$40,000,000 house 14,887 sq ft 6 bed + 10 bath
$55,000,000 house 14,304 sq ft 8 bed + 11 bath

22 homes for sale $10,000,000 to $50,000,000
290+ homes for sale $1,000,000 to $10,000,000

I don’t know about you, but my heart bleeds for many of the Private Equity Firms in Greenwich, CT. The demographic of Greenwich, CT show how these folk barely get by … should we start a Go Fund Me for them ? How will they afford that Dom Perignon, Wasabi Beef, Truffles or …

 

[BBShark]

I guess rich peoples houses are so bid they need more bathrooms than bedrooms. Must be poor diet that gives them the shits.

$29,997,000 house 13,343 sq ft 7 bed + 13 bath - more toilet than beds
$30,000,000 house 18,068 sq ft 11 bed + 11 bath ??? FOS ???
$32,000,000 house 23,700 sq ft 6 bed + 12 bath
$40,000,000 house 14,887 sq ft 6 bed + 10 bath
$55,000,000 house 14,304 sq ft 8 bed + 11 bath

 

[rtj]

I guess rich peoples houses are so bid they need more bathrooms than bedrooms. Must be poor diet that gives them the shits.

$29,997,000 house 13,343 sq ft 7 bed + 13 bath - more toilet than beds
$30,000,000 house 18,068 sq ft 11 bed + 11 bath ??? FOS ???
$32,000,000 house 23,700 sq ft 6 bed + 12 bath
$40,000,000 house 14,887 sq ft 6 bed + 10 bath
$55,000,000 house 14,304 sq ft 8 bed + 11 bath

Those houses are huge. Probably don’t want guests in the sleeping areas. Not uncommon for 2700 sq ft to have 3 bathrooms.

 

[Geoff Coenen]

11/15/2021 - Announcement
SoffSeal Backorder Cancellation - All Orders Prior to Nov. 1st

Dear Valued SoffSeal / RPUI Dealer,

2020 and 2021 have been full of interesting challenges within our industry. Due to rising costs and logistical delays, we've been forced to evaluate our open backorders.

At this time SoffSeal will be cancelling all open orders/backorders from prior to November 1st, 2021. This includes entirely unfulfilled PO's and PO's with remaining balances that we've processed partial shipments against.
If you would like an open PO report to verify what you have on order please contact [email protected] or call 1-800-426-0902. Please re-issue new PO's at current pricing and we'll process as soon as possible. With this change we are removing the 5% order surcharge for SoffSeal effective immediately.

If you have questions please contact your RPUI representative.

Thank you,

Brain Caudill

VP of Sales and Customer Service
Email: [email protected]