M&A Deal Summary

Reece Acquires Todd Pipe & Supply

On September 9, 2019, Reece acquired distribution company Todd Pipe & Supply from HD Supply for 160M USD

Acquisition Highlights
  • This is Reece’s 2nd transaction in the Distribution sector.
  • This is Reece’s 2nd largest (disclosed) transaction.
  • This is Reece’s 2nd transaction in the United States.
  • This is Reece’s 1st transaction in California.

M&A Deal Summary
Date 2019-09-09
Target Todd Pipe & Supply
Sector Distribution
Buyer(s) Reece
Sellers(s) HD Supply
Deal Type Divestiture
Deal Value 160M USD
Advisor(s) Ervin, Cohen & Jessup (Legal)

Target

Todd Pipe & Supply

Anaheim, California, United States
Todd Pipe & Supply Co. engages in wholesale distribution of hydronic plumbing and heating equipment and supplies. Todd Pipe & Supply Co. is a strong and well-known business, with six branches in attractive growth areas.

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Buyer(S) 1

Buyer

Reece

Cremorne, Australia
Category Company
Founded 1920
Sector Distribution
Employees9,000
Revenue 9.1B AUD (2024)
DESCRIPTION

Reece is a distributor of plumbing, waterworks, and HVAC products in Australia. The Company operates a plumbing and bathroom supplies business, as well as 8 others in allied industries. Reece was founded in 1920 and is based in Cremorne, Australia.

DEAL STATS #
Overall 2 of 2
Sector (Distribution) 2 of 2
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 MORSCO

Forth Worth, Texas, United States

MORSCO, Inc. is a wholesale distributor of plumbing, HVAC, and builder products in the Southwest. Sovos Brands is a new kind of food and beverage company with a mission to acquire and build one-of-a-kind brands. Its portfolio includes Michael Angelo’s Gourmet Foods, a leading producer of premium, authentic frozen Italian entrées, and Rao’s Specialty Foods, a producer of super premium pasta sauce and other Italian specialty foods. Founded in 1917, Morrison now operates approximately eighty locations in Texas, New Mexico, Oklahoma, Kansas, and Louisiana.

Buy $1.4B

Seller(S) 1

SELLER

HD Supply

Atlanta, Georgia, United States
Category Company
Founded 2007
Sector Distribution
Employees11,000
Revenue 6.1B USD (2020)
DESCRIPTION
HD Supply's headquarters in Atlanta, Georgia.
HD Supply's headquarters in Atlanta, Georgia.

HD Supply is a wholesale distributor of a broad range of products and services to professional customers in the infrastructure, energy, maintenance, repair & improvement, and specialty construction markets. HD Supply was founded in 2007 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 6 of 7
Sector (Distribution) 5 of 6
Type (Divestiture) 6 of 7
State (California) 1 of 1
Country (United States) 6 of 7
Year (2019) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 Presto Maintenance Supply

Houston, Texas, United States

Presto Maintenance Supply is a Maintenance, Repair and Operations distribution company. Presto Maintenance Supply primarily serves the Houston metro-area multifamily industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-11 White Cap Supply

Norcross, Georgia, United States

White Cap is a distributor of specialty concrete and construction products. It operates 270 branches with approximately 5,500 employees and offers more than 400,000 SKUs to 200,000 customers. White Cap was formed in 1976 and is based in Norcross, Georgia.

Sell -
Mergr

Product

Company

Legal