Reece Group Completes MORSCO Acquisition
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
FORT WORTH, Texas — The Reece Group, an Australian provider of plumbing, HVAC, and waterworks products, has completed its acquisition of MORSCO.
First announced on May 7, the acquisition marks Reece Group’s entry into the U.S. plumbing market through MORSCO’s 170-plus 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.
“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, CEO, Reece Group. “With the acquisition complete, our focus continues to be on ensuring 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.
For more information, visit https://www.reecegroup.com.au.
Publication date: 07/03/18