Winsupply Inc., one of the largest distributors in the nation, has closed on the purchase of Morgan Brothers Supply Inc., a plumbing wholesale distributor primarily serving central and northern Florida. Details of the asset purchase were not disclosed.
Morgan Brothers Supply was founded in 1980 and has grown rapidly to seven locations and nearly 120 employees to serve plumbing contractors and general contractors, developers, homeowners and correctional institutions. The company has six plumbing showrooms. The founders of the company, Russell and Peter Morgan, sold their interest in the company to Winsupply.
Arnold Hardy, previously sales manager at Morgan Brothers, becomes president of the company, which will continue to do business as Morgan Brothers Supply. Hardy has 36 years of experience in the plumbing wholesale industry including his last 25 years at Morgan Brothers. He plans to purchase equity in the newly acquired company and share ownership with Winsupply Inc., the majority owner.
"Morgan Brothers Supply has delivered sales growth that has easily exceeded the pace of overall economic growth in the highly attractive Florida market," said Monte Salsman, president of Winsupply Acquisitions Group. "The credit goes to the staff under Arnold who are highly-trained, knowledgeable and solutions-oriented people providing high levels of customer service. The leaders at each of their locations in Ocala, Daytona Beach, Melbourne, Gainesville, Crystal River, Jacksonville and Orange City average nearly 20 years' experience each."
Hardy said he welcomes the opportunity for ownership. "I look forward to the opportunity of working and growing with Winsupply and also the future of ownership and all that the company has to offer. Our employees are excited about the future with Winsupply and look forward to joining a company that will enable us to continue to grow and develop our company with tremendous buying power and the support of their new distribution center in Jacksonville."
The company's legal name becomes Winsupply of Daytona Beach, FL Co., but will continue to do business as Morgan Brothers Supply.