Hughes Supply Acquires Marden Susco LLC
The transaction closed on Aug. 4, and is expected to be accretive to earnings within the next 12 months.
San Marcos, Calif.-based Marden Susco serves the southern California waterworks industry through seven branch locations. The company generated sales of $63 million for its fiscal year ended April 2003. It is a third-generation, family-owned business with about 100 employees.
"Marden Susco has made significant investments in training, technology and innovation during the past few years and by becoming part of the Hughes family, we have increased opportunities to continue that growth and move the business forward with an established industry leader," Scott Groeniger, president of Marden Susco, said in a statement. He will remain with the company under its new ownership.