MORSCO Acquires Murray Supply Company
North Carolina based Supply Company is Attractive Starting Point for
MORSCO’s Expansion into Southeast’s Growing Plumbing Market
Fort Worth, TX – September 14, 2015 – MORSCO, a Fort Worth-based distributor of commercial and residential plumbing, heating and cooling equipment (HVAC), and pipe, valves and fittings (PVF), has acquired substantially all of the assets of Murray Supply Company (“Murray Supply”), a leading plumbing supply company based in North Carolina. The new locations will continue to operate as Murray Supply Company, a MORSCO Company.
Murray Supply, founded in 1965, provides wholesale distribution of residential and commercial plumbing products, industrial and commercial piping products, and multi-family housing maintenance supplies. Murray Supply operates four plumbing branches (Charlotte, Hickory, Winston-Salem, and Raleigh, NC), three Maintenance/Repair/Operations branches (Charlotte and Raleigh, NC and Richmond, VA) and one industrial PVF branch in Winston-Salem.
Chip Hornsby, CEO of MORSCO, said, “Bringing Murray Supply into the MORSCO family is a significant milestone in the growth of our company as it is the first acquisition we have made in the attractive Southeast region. MORSCO has historically focused on building its business in the Southwest, specifically Texas. We are now ready to begin to move East, and we are confident that Murray Supply provides an excellent base to begin our Eastward expansion.”
“Murray Supply has a long history in the Southeast and we are honored to be part of MORSCO’s growth strategy for the region,” said Charlie Murray, CEO of Murray Supply. “It is in recognition of the strength of our company and the quality of our people that they are willing to invest in us as their first platform company in this area. With the backing of MORSCO, we are excited to enhance our capabilities, bring new opportunities to our people and even greater service and products to our customers. This partnership with MORSCO is a great cultural fit as our missions and goals for the future are in alignment. We are excited to start this next chapter of our evolution and we are proud to be the beginning of new expansion.”
With the acquisition of Murray Supply, MORSCO will now be comprised of seven business operating units: Morrison Supply Company, Express Pipe & Supply, Farnsworth Wholesale Company, Wholesale Specialties, Expressions Home Gallery, Kiva Kitchen & Bath and Murray Supply Company.
The Orr Group, a Winston-Salem based investment banking firm, advised Murray Supply in its transaction with MORSCO.
MORSCO is a leading U.S. distributor of commercial and residential plumbing, heating and cooling equipment (HVAC), and pipe, valves and fittings (PVF), with showrooms across the country. It is comprised of a family of long-established local distributors all committed to be the local contractor supply source by consistently providing superior customer service, unparalleled local product availability, and premiere customer support. We currently consist of seven operating units and operate in ten states with over 130 branches and 2000 associates. Please visit our website at www.MorscoUSA.com.
About Murray Supply Company
Murray Supply Company, founded in 1965 in North Carolina, is a progressive, industry-leading organization with deep-seated family business roots, yet incorporates world class business practices. Their professional associates are provided best-in-class training and tools to provide solutions that exceed the expectations of their customers. Their commitment is to their associates, customers, vendors, industry and environment. With branches throughout North Carolina and one in Virginia, Murray Supply Company’s multiple locations and considerable inventory gives them the ability to supply products to their customers, when and where it is needed. For more information, please visit www.murraysupply.com
About The Orr Group
The Orr Group is an investment banking firm that provides merger & acquisition, financing and strategic advisory services to middle market companies in the manufacturing, distribution, service and retail sectors. Since 1996, The Orr Group has completed transactions valued at more than $6.5 billion. For more information, please visit www.theorrgroup.com.