Hughes Supply Buys Todd Pipe

ORLANDO, FLA. Hughes Supply has acquired Todd Pipe & Supply, an independent plumbing wholesaler in Southern California and Las Vegas. The transaction closed May 28. In its announcement, Hughes said the acquisition of Todd Pipe is aligned with two key elements of its acquisition strategy: expanding its geographic footprint into attractive, high-growth markets and investing in businesses with leadership

ORLANDO, FLA. — Hughes Supply has acquired Todd Pipe & Supply, an independent plumbing wholesaler in Southern California and Las Vegas. The transaction closed May 28.

In its announcement, Hughes said the acquisition of Todd Pipe is aligned with two key elements of its acquisition strategy: expanding its geographic footprint into attractive, high-growth markets and investing in businesses with leadership market positions, superior operating models and higher profitability

“Hughes believes plumbing is an excellent business with great potential and is strategic to its long-term plans,” the company stated.

Founded in 1966, Todd Pipe operates eight branch locations throughout Southern California and one branch in Las Vegas, with an estimated 25% share in each of those markets. Todd Pipe’s sales and operating income for the 12 months ended Jan. 31 were $211 million and $13 million, respectively. The company has about 483 employees.

“Since our founding, we have taken great pride in setting the standard for excellence in our industry by providing the highest level of reliable service to our industry partners, providing our employees with an opportunity to work in a rewarding and growing environment, and maintaining our reputation of honesty, trust and integrity,” said Karl McMillen, owner and chairman of Todd Pipe.

TAGS: Plumbing