Advent International to Sell MORSCO to Reece Limited

Advent Intl., a global private equity investor, has agreed to sell MORSCO, a U.S. distributor of plumbing products, waterworks materials, and HVAC equipment to Reece Limited. Reece, a distributor of plumbing, waterworks, and HVAC products in Australia, will acquire MORSCO for $1.44 billion in cash.