(Adding figure for Atlantic Construction Fabrics's annualised revenue)
(Alliance News) - Ferguson PLC on Tuesday acquired Old Dominion Supply Inc - a US wholesale distributor of HVAC parts and supplies - and Atlantic Construction Fabrics Inc, a geotextile company based in the US.
Ferguson is a FTSE 100 company based in the US which distributes plumbing and heating products.
The group did not disclose the price of the acquisition, but noted that Old Dominion has an annualised revenue of approximately USD55 million while ACF's annualised revenue is approximately USD100 million.
Ferguson Chief Executive Kevin Murphy, said, "The acquisition of Old Dominion continues our expansion within the HVAC market, giving us greater vendor and product synergies in the Washington DC metro area, Maryland and Northern Virginia. ACF adds a large geographic footprint along the East Coast and additional geotextile capabilities which will further diversify our Waterworks business and complement our existing customer offering in geosynthetics, erosion control and stormwater management."
Shares in Ferguson were up 0.4% at 7,998.00 pence in London on Tuesday.
By Zoe Wickens; zoewickens@alliancenews.com
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Ferguson (FERG)