PCE Investment Bankers Announces Sale of FIS Outdoor
December 03, 2019 (PRLEAP.COM) Business NewsWinter Park, FL– PCE Investment Bankers (PCE) is pleased to announce the sale of Florida Irrigation Supply (FIS Outdoor) to Heritage Landscape Supply Group (Heritage). PCE served as the exclusive financial advisor to FIS Outdoor, a privately-owned distributor of irrigation, outdoor lighting, and landscape products.
"We have a longstanding relationship with PCE", said Jon Tannler, president of FIS Outdoor. "For more than 20 years, we have trusted the folks at PCE to assist FIS Outdoor with various engagements. We knew we could count on their experience to lead us through a successful transaction and we are extremely pleased with the results."
Mr. Tannler continued, "We have accomplished our goal of finding a long-term partner that will cherish our people and present them with unlimited career opportunities, the chance to be shareholders, and a culture that celebrates having fun."
Headquartered in Sanford, Florida, and established in 1974, FIS Outdoor is a premier irrigation and landscape supply company serving residents and businesses. FIS Outdoor operates a network of 39 branches across the Southeast United States, servicing the needs of professional irrigation and landscape contractors, municipalities, golf course superintendents, and other green industry professionals.
"The merger of FIS Outdoor and Heritage is unquestionably an ideal match," commented Michael Poole of PCE. "The union of the two companies preserves the legacy and culture of FIS Outdoor while providing Heritage an outstanding team with exceptional geographic coverage."
Heritage was formed in 2019 by SRS Distribution to build a national network of independent distributors. Heritage seeks to preserve the legacy of every acquired company by maintaining local brand identity and management. Each acquired group runs as a family of independents rather than a national platform.
Heritage will continue to operate the FIS Outdoor branches under the FIS Outdoor name, and the entire FIS sales and operations team will remain with the company.
Gray Robinson, P.A., provided legal advice to FIS Outdoor. Haynes and Boone, LLP was the legal advisor to Heritage/SRS.
About: PCE is a leading financial services firm for middle market companies, offering clients a full range of investment banking, valuation, and advisory services. PCE delivers M&A support, ESOPs, management buyouts (MBOs), bankruptcy advisory, restructuring, and fairness and solvency opinion advisory services. Experienced in all market sectors, PCE has established several specialty practice areas, including Construction & Building Products, Food & Ag, Diversified Industrial, Healthcare, and Transportation & Logistics. Offices in Orlando, Atlanta, Chicago, and New York. Learn more about PCE at www.pcecompanies.com