Winsupply has accelerated its pace of greenfield locations in 2017 and already matched its acquisition total from last year, helping the Dayton, OH-based HVAC and plumbing distributor continue its ambitious growth strategy.
Through Sept. 20, the company has opened nine locations – in Arizona, Arkansas, California, Maine, Maryland, Massachusetts, Tennessee and Texas – and also acquired Electrical Sales Inc., Vista, CA, for its first electrical distribution location on the West Coast.
Winsupply opened nine locations in all of 2016 and made one acquisition. After matching last year's total through three quarters, the company expects to open additional branches in the fourth quarter.
“We are actively executing a key piece of our growth strategy at Winsupply in opening these new companies and with plans for the opening of more companies this year,” said Roland Gordon, who took over as CEO on Jan. 31, replacing Jack Johnston and adding to his role as president.
Gordon told MDM in early 2016 that the company was targeting $3 billion in annual sales, which it accomplished last year after growing revenue 11.1 percent. The company is targeting growth in plumbing, HVAC and fire sprinkler systems this year.
Winsupply's business model is based on each location being locally owned. "Almost every one of our 580 locations is a separate business with a local owner, with Winsupply as majority owner,” said Rick Schwartz, Winsupply's chairman and 2016 NAW president, at this year's NAW Executive Summit. Schwartz was also featured in a February MDM Premium article, Why Capitalism Isn’t a Bad Word.
Read more about the company, which celebrated its 60th anniversary in 2016, in last year's MDM Market Leader profile, MDM Interview: Winsupply’s Winning Formula.
Acquisitions are part of Winsupply's growth strategy and should be part of yours too. October's Distribution M&A Executive Workshop, sponsored by MDM and Indian River Consulting Group, will bring the most experienced wholesale distribution M&A advisers and deal makers into one room to help you navigate transactions successfully, whether you’re buying or selling.