Hughes Supply Acquires Todd Pipe & Supply
Founded in 1966, Todd Pipe operates eight branch locations and has 483 employees. Todd Pipe's sales and operating income for the 12 months ended Jan. 31, were $211 million and $13 million, respectively.
Karl McMillen, owner and chairman of Todd Pipe said in a statement, "I am pleased that our operating management team will remain, and by joining Hughes Supply, will continue that tradition and move the business forward with a well-respected and established industry leader."
Tom Morgan, president and CEO of Hughes Supply said, "Todd Pipe is a highly profitable, exceptionally well-run market leader that will provide us with strong market positions in attractive markets, increased scale, and proven systems and practices.”