(Alliance News) - Ferguson PLC on Friday said the acquisition of Airefco Inc, a distributor of heating, ventilation, and air conditioning equipment, parts and supplies in the Pacific Northwest.
Airefco is headquartered in Tualatin, Oregon, and employs 191 associates across eleven locations, distributing Carrier and Bryant brands to customers in Alaska, Idaho, Montana, Oregon, Washington and Wyoming. No financial amount was disclosed.
Ferguson, the Wokingham, England-based plumbing and heating products supplier said that the acquisition represented its commitment to growing its HVAC business.
It recently acquired Guarino Distributing Company LLC, an HVAC distributor in Louisiana and Mississippi, and Aaron & Company, a plumbing and HVAC distributor in New Jersey.
"Airefco has a strong market reputation for quality associates, products and customer relationships," said Chief Executive Officer Kevin Murphy.
"Airefco joining Ferguson will support our dual trade strategy for the plumbing and HVAC contractor and will help us accelerate the geographic expansion of our HVAC business in the Pacific Northwest. It will also provide us with a larger multi-brand footprint and an opportunity to expand the Carrier network in the region's growing residential and commercial markets."
Ferguson shares closed 2.5% lower at 9,412.00 pence each in London on Friday.
By Holly Beveridge; hollybeveridge@alliancenews.com
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Ferguson (FERG)