Reliance (ASX: RWC) provides plumbing supplies and water flow products to Australia, New Zealand, Canada and the US. Most of Reliance’s products are used in what’s known as ‘behind-the-wall’ plumbing – fittings that are used by tradesmen to connect plumbing and hot water systems. Companies such as Rheem and Reece are customers whilst retailers such as Tradelink and Home Depot in the US stock Reliance’s products.
Almost 60% of sales are derived from the top 10 customers, with Home Depot being the critical relationship.
How long have you held the stock?
We have owned Reliance since its IPO in May this year.