MORSCO, a Fort Worth-based distributor of commercial and residential plumbing, HVAC, and PVF, has acquired substantially all of the assets of Murray Supply Company, 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.