NEWPORT NEWS, Va., Sept. 15, 2016 /PRNewswire/ -- Ferguson, the
nation's largest plumbing distributor, purchased 13 companies in
fiscal year 2016. The acquisitions spanned coast-to-coast and
multiple business types including waterworks, plumbing, fire and
fabrication and MRO, in addition to eCommerce companies and
appliance and lighting showrooms.
"We added many reputable companies with talented associates to
our portfolio this year," said Ferguson CEO Frank Roach. "Our acquisition pipeline is
strong, and we will continue to look for companies that integrate
seamlessly with our core businesses and align with our corporate
culture and values."
Geographic expansion is also important to Ferguson's acquisition
strategy. The company focuses on markets where Ferguson has a
limited presence or high-potential markets.
Entry into Michigan
waterworks market through acquisition
Ferguson Waterworks, the industry's largest waterworks
distributor, acquired three Michigan based waterworks companies – Michigan
Pipe & Valve – Lansing,
Michigan Pipe & Valve – Flint and Michigan Meter
Technology Group in June and July. The acquisitions expand
Ferguson's geographic footprint in the upper Midwest and provide a
full waterworks offering in the state. Ferguson Waterworks now has
locations in Flushing,
Kalamazoo, Lansing, Warren and Madison
Heights. The locations offer industry-leading meter lines
and service, and with the acquisition of Michigan Meter, Ferguson
Waterworks is now the sole distributor of Neptune Water Meters and
AMI/AMR in Michigan.
"Our entry into the Michigan
waterworks market is a good example of a bolt-on acquisition in a
geography Ferguson was not currently servicing," added Roach. "More
importantly, we are pleased to welcome the knowledgeable associates
of these three companies to the Ferguson family, and look forward
to establishing strong customer relationships in the upper
Midwest."
Ferguson's fiscal year ended July
31. Full financial results will be released on September 27.
Ferguson
Ferguson (www.ferguson.com) is the largest wholesale distributor of
residential and commercial plumbing supplies and pipe, valves and
fittings in the U.S. The company is also a major distributor of
HVAC/R equipment, waterworks and industrial products and services.
Founded in 1953 and headquartered in Newport News, Va., Ferguson has sales of
$13 billion and approximately 22,000
associates in 1,400 locations. Ferguson and its subsidiaries serve
customers in all 50 states, Puerto
Rico, Mexico and the
Caribbean. Ferguson is part of
Wolseley plc (www.wolseley.com), which is listed on the London
Stock Exchange (LSE: WOS) and on the FTSE 100 index of listed
companies.
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SOURCE Ferguson