Danco, a maker of kitchen and bath fixtures and plumbing supplies, has agreed to acquire of MJSI Inc., a leading manufacturer of toilet repair products. The purchase price was not disclosed.
MJSI's water-saving products include HydroRight dual-flush conversion kits, as well as HydroClean toilet fill valve and flappers. MJSI products are currently sold in Home Depot, Menards, Ace Hardware, True Value and Do it Best Corp., among other retail outlets.
"The acquisition of MJSI supports our company growth strategy to increase market share in current categories and strengthen our competencies for entering and winning in new categories through patented, consumer-driven product innovation," said Scott Thresher, CEO of Danco and LSP, its sister wholesale company. "Acquiring MJSI significantly strengthens our product offering in toilet repair, a key growth category for Danco."
Michael Schuster, the CEO and majority shareholder of MJSI, will join Danco and LSP. Schuster will work closely with the product and marketing teams to further strengthen the product innovation pipeline, the announcement said.
Danco will assume all responsibility for business operations of MJSI, including distribution, inventory management, customer service support, marketing and sales functions.
Headquartered in Dallas, Danco is one of the largest plumbing repair, replacement and remodel supplier in the home improvement industry. Its products are sold through Home Depot, Lowe’s and other retail locations.