Dayton, Ohio-based Winsupply recently purchased MSI Supply, a Houston-based distributor of pipe, valves and fittings. Details of the stock purchase were not disclosed.
MSI Supply is a full-line distributor of PVF, flanges, stud bolts, gaskets and fasteners, primarily serving the petroleum and pharmaceutical industries. As a Winsupply company, MSI Supply will remain under the leadership of Chad Smith, who has managed the company through its rapid growth since 2011 when he became a co-owner. The company was founded in 1999.
“MSI Supply is a highly successful company that has grown exponentially, more than 1,200%, since 2011 based on projections for this year,” said Roland Gordon, president of Winsupply. “Chad Smith realized that to continue their extraordinary upward path they needed a strong equity partner with the capital and support resources to grow. Winsupply’s unique co-ownership business model offers entrepreneurs like Chad the opportunity to continue to lead his own company with Winsupply as majority owner.”
Smith added: “MSI Supply is at a critical tipping point on its growth curve, and Winsupply is the perfect partner to help us achieve the next levels of success. The benefits of a large organization and the autonomy of a thriving small business make for a winning combination. I’m thrilled for MSI Supply to begin this new chapter with Winsupply.”
Smith, who was previously a mission design engineer with NASA, will invest equity in MSI Supply and continue to have autonomy as president and entrepreneur, responsible for making decisions he believes are best for his company, Winsupply explained. In the Winsupply co-ownership business model, Winsupply has majority equity in each of its locations, while the local company presidents and sometimes employees own substantial equity.
Winsupply has nearly 600 wholesaling locations in 45 states.
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