Plumbing News

Reece Group Completes MORSCO Acquisition.

Australia's leading provider of plumbing, HVAC and waterworks products, the Reece Group, today has completed its acquisition of MORSCO.

First announced on May 7, 2018, this acquisition marks Reece Group's entry into the U.S. plumbing market through MORSCO's 170+ branches within 16 states throughout the Sun Belt region.

Founded in 1920, Reece Group is listed on the Australian Securities Exchange (ASX) and has more than 5,300 employees throughout 600 branches in Australia and New Zealand, servicing the plumbing, bathroom, building, civil, irrigation, heating, air conditioning and refrigeration industries.

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"We're excited to welcome MORSCO into the Reece Group in what is a transformational opportunity that has been years in the making," said Peter Wilson, Reece Group CEO. "With the acquisition complete, our focus continues to be on ensure a smooth integration under the leadership of MORSCO CEO, Chip Hornsby."

MORSCO will be run as a separate company to Reece Group's Australian and New Zealand businesses, with the existing MORSCO management remaining in place.

"Reece's long-term commitment to invest and grow MORSCO has been well received and we look forward to benchmarking their best practices in operations and customer experiences over time," said Hornsby.

About MORSCO
MORSCO is a leading U.S. distributor of commercial and residential plumbing, waterworks and HVAC supplies. The company was founded in Fort Worth, Texas, and is now one of the fastest growing in its market, led by a team of industry veterans. In 2018, MORSCO was acquired by The Reece Group, Australia's leading provider of plumbing, HVAC and waterworks products. The MORSCO family of brands consists of Express Pipe & Supply Co. (CA); Farnsworth Wholesale Supply (AZ); Morrison Supply Company (TX, OK, NM, KS); Murray Supply Company (NC, SC); Wholesale Specialties (CO), DeVore & Johnson (GA); Fortiline Waterworks (AL, AZ, FL, GA, KS, KY, NC, OH, OK, SC, TN, TX, VA) and MORSCO's premier showroom offering in these markets, Expressions Home Gallery. For additional information regarding MORSCO or any of its brands, please visit www.morsco.com.

About The Reece Group
Reece Group is a leading distributor of plumbing, waterworks and HVAC-R products to commercial and residential customers through 800 branches in Australia, New Zealand and the United States.

Established in 1920 and listed on the Australian Securities Exchange (ASX: REH), Reece Group has approximately 8,000 employees committed to improving the lives of their customers by striving for greatness every day.

For further information on Reece Group and its portfolio of businesses please visit www.reecegroup.com.au.

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