Embassy Group, WIT & Co. announce merger
The board of directors of both Embassy Group and WIT & Co. announced the two companies have signed a Letter of Intent to merge the businesses.
The merger will bring together two of the premier, member-owned, 100% transparent, independent plumbing, heating and water works groups in the country. Boasting combined revenue of more than $8.5 billion, 138 members and 1,450 locations across the continental United States, this new group will become, by revenue, the largest plumbing group in the country.
Mike Lepley, president of Embassy Group, and Brandy Reed, executive vice president of WIT & Co., notified their respective members on May 13 of their boards’ decision.
“We are extremely excited, as this merger will offer unprecedented opportunities to our members," said Lepley. "The combination of purchasing power, coupled with the best technology platform in the industry highlights two of the key drivers in getting this done."
"Merging of the two organizations is a monumental occasion," said Reed. "We are beyond enthusiastic to bring together core strengths of both companies to further drive efficiencies in the plumbing, HVAC and water works supply chain. We commend the Embassy and WIT board of directors for their decision and guidance regarding the merger.”
More information about the merger will be available once the definitive agreement has been approved by the board of directors. Embassy Group, Geneva, Illinois, founded in 1991, and WIT & Co., Irving, Texas, founded in 1974, are member-owned, 100% financially transparent groups, that consistently provide growth opportunities for the independent wholesaler and their best-in-class suppliers.