Marcone Appoints Asterios Satrazemis to CEO of Marcone Group

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Oct 31, 2024, 08:00 ET

Seasoned industry executive tapped to lead Marcone into its next phase of growth

ST. LOUIS, Oct. 31, 2024 /PRNewswire/ -- Marcone Group ("Marcone"), one of the leading North American distributors of appliance, HVAC, plumbing, commercial kitchen and pool and spa parts and equipment, is excited to announce the appointment of Asterios Satrazemis as its new President and Chief Executive Officer effective September 30.

With a proven track record of driving transformational growth, Satrazemis spearheads Marcone's next chapter of expansion and customer-centric innovation.

Satrazemis succeeds Avichal Jain, who led Marcone's initial growth from a leading appliance parts distributor to a multi-vertical partner across five major sectors. Satrazemis is expected to build on this foundation by further expanding Marcone's market share and strengthening its reputation as the distributor of choice for leading OEMs and service technicians.

"We're thrilled to welcome Asterios to Marcone," said Rob Rutledge, Managing Partner at Genstar Capital ("Genstar"), majority investor in Marcone. "His inclusive leadership style, industry expertise, growth orientation and dedication to operational excellence align perfectly with our long-term vision for Marcone. We're confident that under his leadership, Marcone will continue to grow and deliver best-in-class service to our customers."

Satrazemis brings extensive executive and global leadership experience, with a track record of successfully growing diverse, distributed service-based businesses, most recently as the CEO of BlueLine Rental and United Site Services. Throughout his career, he has built strong cultures grounded in empowering frontline employees and delivering solutions that meet customer needs, resulting in sustained growth and market leadership in highly competitive sectors.

"I am honored to join Marcone at such a dynamic time," said Satrazemis. "With our team's expertise and passion, we're well-positioned to drive further innovation and growth. Together, we will continue to lead the distribution industry by delivering unmatched service and value to our customers and become the leading one-stop-shop distributor of products and equipment to service technicians."

Since Genstar's initial investment, Marcone has more than tripled in size through a combination of both organic and inorganic growth. Marcone has significantly expanded its geographic reach, product offering and addressable market through nine strategic acquisitions in the HVAC, plumbing and pool and spa sectors and has launched a high-growth commercial kitchen business. With an extensive nationwide distribution network, Marcone provides fast, reliable customer service through its branch locations, extensive fleet of delivery vehicles and order shipments reaching 93% of U.S. customers with next-day ground delivery and 100% within two days.

About Marcone Group
Marcone is the leading provider of premium solutions, parts and equipment for professionals serving customers on their appliance parts, HVAC, plumbing, commercial kitchen, and pool and spa needs. Headquartered in St. Louis, Missouri, Marcone is a multi-billion-dollar enterprise operating out of more than 200 locations throughout North America. Offering unparalleled product breadth, know-how across our national footprint and ease of doing business via leading-edge technology, servicers prefer Marcone because we amplify what they do best: take great care of their clients with speed, reliability and accuracy. Learn more about Marcone at marcone.com.

About Genstar Capital
Genstar Capital (gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for more than 30 years. Based in San Francisco, Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, software and healthcare industries.

Media Contact:
Elizabeth Davies
Marcone Group
Cell: 815.440.8768
[email protected]

SOURCE Marcone