EXPANDING LOCAL RELATIONSHIPS, INVESTMENTS FOR GROWTH
In November 2011, Morrison received a significant equity investment from Advent International, one of the world’s largest private equity firms and one of most active investors in growing distribution businesses. Chip Hornsby, an industry veteran, joined Morrison as CEO and the company embarked on a new phase of expansion. Our expansion kicked into gear in January 2012, by adding 13 new locations in Southern California with the acquisitions of Express Pipe & Supply and, shortly thereafter, Teal Supply. In September 2013, MORSCO acquired Farnsworth Wholesale Company, the largest independent player in Arizona with seven locations in the greater Phoenix and Tucson markets. Solidifying its leadership position in the Southwest, MORSCO also acquired Wholesale Specialties in February 2014. Plus, we acquired six companies and started 12 locations. We expanded our footprint to the southeast in September 2015 with the acquisition of Murray Supply Company and their eight locations, then added Atlanta-based Devore and Johnson in May 2016. In October 2016, MORSCO expanded its footprint throughout the sunbelt by acquiring Fortiline Waterworks, one of the largest waterworks distributors in the United States.
A GROWING INDUSTRY LEADER AND REECE GROUP PARTNER
Today MORSCO is a leading U.S. distributor of commercial and residential plumbing, waterworks and HVAC supplies. In 2018, MORSCO was acquired by The Reece Group, which operates Australia’s largest plumbing and bathroom supplies business, as well as eight others in allied industries. Nearly 100 years old, Reece is always doing something new and different, expanding into fresh areas, developing new technologies and systems and pioneering innovative products. MORSCO’s journey with Reece has just begun, but the strategic, long‐term partnership will certainly guide the next chapter of growth and success for MORSCO for many years to come.
