Livingstone is pleased to announce the sale of Keidel Supply (“Keidel” or the “Company”) to Winsupply Inc. (“Winsupply”). Livingstone acted as the exclusive financial advisor to the Company. The transaction closed in October 2023, and its terms were not disclosed.

Founded in 1911 and based in Cincinnati, Ohio, Keidel is a premier plumbing, cabinetry, lighting, appliance, and commercial pipe, valve, and fitting distributor with two locations in Ohio. The Company serves the needs of Greater Cincinnati residential and commercial plumbing contractors, builders, remodelers, and homeowners.

Headquartered in Dayton, Ohio, and founded in 1956, Winsupply is one of America’s leading suppliers of materials for residential and commercial construction. Contractors across America rely on Winsupply to provide business solutions and materials in plumbing and heating; hydronics; pipes, valves, and fittings; HVAC and refrigeration; electrical; fastening hardware; waterworks and utility; pumps; turf irrigation and landscape; and fire system fabrication. Winsupply owns a majority equity stake in more than 660 local companies across the United States.

Keidel engaged Livingstone to run a sale process to identify and secure a transaction with the best strategic partner that shared the Company’s commitment to delivering value to its suppliers and customers. Mike Barton, CEO of Keidel, said, “We are thrilled to have found a world-class partner in Winsupply to carry on Keidel’s legacy. I am extremely pleased with the first-class representation we received from Livingstone. They crafted a tailored transaction process and generated interest from the right strategic buyers. They managed every step of the process, yielding an exceptional result.”

Andrew Isgrig, Partner at Livingstone commented, “Keidel has long been a clear leader in Cincinnati. It has differentiated itself in the building products distribution market by offering a broad portfolio of high-quality products from blue-chip brands via an experienced sales team laser-focused on customer service. It was a pleasure representing Keidel on this transaction, and we are excited for their future with Winsupply.”

Managing Director Patrick Hopkins added, “The Keidel transaction represents another successful outcome in the building products sector. The deal highlights ongoing robust M&A activity in plumbing & HVAC distribution via large, well-capitalized strategic acquirers. Our understanding of the product set, relevant buyer universe, and dynamics to drive value enabled us to run a highly competitive process and close a transaction within approximately four months from process launch.”

Taft Stettinius & Hollister LLP served as legal counsel to the Company. Sebaly Shillito + Dyer served as legal counsel to Winsupply.

Transactions