in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, FL. (February 18, 2020) – Farlie Turner & Co. (“Farlie Turner”), a leading investment bank serving middle market clients, is pleased to announce that it served as exclusive advisor to Morgan Bros. Supply, Inc. (“Morgan Bros.”) in its sale to Winsupply Inc. (“Winsupply”). Terms of the transaction were not disclosed.
Founded in 1980 by brothers Russell and Peter Morgan, Morgan Bros. is a leading distributor of plumbing products to over 10,000 plumbing contractors, general contractors, developers and homeowners in the commercial, residential and correctional facility end markets. Morgan Bros.’ best-in-class commercial and residential plumbing product offering comprises over 20,000 SKUs from leading manufacturers, including Kohler, Delta, AO Smith, Moen, Elkay, Brizo, Grohe and others. Due to its strong track record of performance, the Company has established itself as a preferred wholesaler for several manufacturers, including Kohler, AO Smith, Delta and Moen. Morgan Bros. provides its plumbing product distribution services from eight locations throughout central and northern Florida to 23 states, as well as the Caribbean and U.S. Virgin Islands.
“Farlie Turner was an invaluable resource and trusted advisor throughout each phase of one of the most important events of my and Peter’s lives,” stated Morgan Bros. co-founder, Russell Morgan. “Their guidance resulted in a fantastic outcome for Peter and me, and we could not be more pleased with their performance.”
“Russell and Peter built an exceptionally impressive and consistent business over the past 30 years,” commented Managing Director Craig Farlie. “We are thrilled to have been given the opportunity to advise them on this transaction, and believe that Morgan Bros. is well positioned to continue its growth and expansion under Winsupply going forward.”
The Morgan Bros. transaction team was led by Managing Directors Craig Farlie and Daniel Vetrano and Senior Associate Chris Henry.