Turner Supply acquires Parrish-Keith-Simmons
Scott Parrish sold his general line distributorship to Turner Supply Co.
By Industrial Distribution Staff -- Industrial Distribution, 2/1/2000
Nashville, Tenn.--Turner Supply Co., a prominent general line house along the Gulf Coast, acquired venerable Parrish-Keith-Simmons, Inc. to continue its expansion in the South.Nashville becomes Mobile, Ala.-based Turner Supply's twelfth location, which coincides with Turner's opening of a branch in Anniston, Ala., last month. Scott Parrish, president of Parrish-Keith-Simmons, will serve as Turner's vice president of the Nashville region and continue to lead the operation. Parrish's nearly $2 million firm was founded in 1898 and has been owned by the Parrish family since 1983.
The agreement became effective New Year's Day and terms were not disclosed. Turner president Howard Schramm said the acquisition complements 95-year-old Turner Supply's other major distribution centers in Mobile and Birmingham. With sales of nearly $40 million, Turner has branches throughout Alabama, northern Florida and southeast Mississippi.
"This fits our strategic plan to provide access to our five million [dollar] inventory as well as technical assistance in product application at the local level," he said. "We are always looking for opportunities, and this one became available. I just think it is a wonderful opportunity to combine our size and inventory with somebody that has good experience and is already there."
Parrish, treasurer of the Industrial Distribution Assn., is well known among I.D.A. members for his work championing the role of small distributors. He said he does not believe his decision to sell is inconsistent with his belief that small distributors who specialize can remain viable. Parrish said that while his four-employee company sought to carve its niche with material handling equipment and other products, "we needed to go further and faster than what we were doing."
"I fought a war on two different fronts -- trying to grow and specialize material handling, and also looking at viable opportunities to specialize, being aware of what's out there: whether a local consortium, or doing a merger or acquisition," said Parrish.
"I think that every small distributor out there is doing in a sense what I'm doing -- they're looking for opportunities out there," he said. "If there's a chance to form some kind of alliance, form an arms-length alliance or be part of an acquisition, they'll do it."
Parrish said Turner Supply topped the list of quality regional distributors he was interested in. He expects to hire more employees soon and looks forward to adding product lines such as cutting tools, abrasives, hose, belting and power transmission.
Parrish said he will continue his leadership role with I.D.A. Ray Prichard, vice president and general manager of Turner Supply's Birmingham region, is a past president of the Southern Industrial Distributor's Assn.
The deal was consummated quickly after Parrish and Schramm first discussed it at the I.D.A./ASMMA Fall Convention in November. Parrish says he approached the Turner Supply booth and kiddingly asked Schramm and Prichard when they might open a Nashville location. The two offered to talk with him, and less than a month later an agreement was struck.
"It will give me a great opportunity to stay right in the heart of the industry," Parrish said.
Originally the Keith-Simmons Co., Parrish-Keith-Simmons has served mid-Tennessee for more than a century.
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