Appliance parts, HVAC distributor Marcone names new CEO - St. Louis Business Journal

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The Creve Coeur-based distributor of home appliance parts, HVAC, plumbing and other equipment has hired a new top executive who brings experience in growing diverse, distributed service-based businesses.

Marcone, a distributor of home appliance parts, HVAC, plumbing and other equipment, has hired a new top executive.

The Creve Coeur-based company – which also distributes commercial kitchen and pool and spa part and equipment – said it hired Asterios Satrazemis as its new president and CEO. The hiring, announced Thursday in a news release, was effective Sept. 30, officials said.

Satrazemis succeeds Avichal Jain, who joined the company in 2013, according to LinkedIn, and held roles as COO and as president before becoming CEO in 2023. Jain "led Marcone's initial growth from a leading appliance parts distributor to a multi-vertical partner across five major sectors," officials said in the release. A spokesperson couldn't provide more information about Jain's departure.

Satrazemis brings to Marcone executive and global leadership experience in growing diverse, distributed service-based businesses, officials said.

He most recently was managing director of New York City-based private equity firm American Securities, according to LinkedIn. Prior to that, other leadership roles Satrazemis had held include CEO of United Site Services, a Westborough, Massachusetts-based provider of on-site equipment such as sanitation systems and dumpsters, and of Woodlands, Texas-based BlueLine Rental, a construction and industrial equipment provider.

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

Since its acquisition by Genstar Capital in June 2021, Marcone, which also goes by Marcone Group, has more than tripled in size, including nine acquisitions, officials said in Thursday's release.

Marcone, which is an authorized distributor for major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung and L-G, in recent years has expanded beyond replacement parts. In fall 2022, the company added distribution of commercial kitchen repair components. Marcone supplies heating, ventilation and air conditioning equipment through its suburban Chicago-based Munch's Supply unit, which it acquired in early 2022, and it supplies repair parts to plumbers through its Professional Plumbing Group. It entered the $10 billion pool and spa distribution market in fall 2022 with the acquisition of Lenexa, Kansas-based Great Plains Supply Inc. and its affiliate Pool and Spa Products, based in Houston.

Marcone also exports globally, operates a training institute and offers services including payroll, insurance, inventory management and field service management.

Marcone, with 200 locations, has about 2,500 total employees in North America, about 65 of whom work in the St. Louis area, a spokesperson said in February. The company said in July 2023 that it had about $2 billion in annual sales.