Last checked at 17 Nov 2020 14:00
November 17, 2020
FERGUSON PLC
Ferguson acquires Old Dominion Supply, Inc. and Atlantic Construction Fabrics, Inc.
Ferguson plc today announces the acquisition of Old Dominion Supply, Inc. ("Old Dominion"), a wholesale distributor of HVAC parts and supplies in Maryland and Northern Virginia, and Atlantic Construction Fabrics, Inc. ("ACF"), a geotextile company operating along the East coast.
Founded in 1962, Old Dominion is a wholesale distributor of HVAC parts and supplies to residential and commercial contractors. The company operates with approximately 40 associates based out of two locations and serves the Washington D.C. metro area, Baltimore, Central Maryland and Northern Virginia. The company has annualized revenue of approximately $55 million.
Founded in 1984, ACF provides geotextile, stormwater and erosion control solutions to the civil construction market primarily along the East coast. Headquartered in Richmond, Virginia, the company operates with approximately 190 associates across 20 locations from Florida to Maine and extending west into Ohio. The company has annualized revenue of approximately $100 million.
Commenting on the acquisitions, Kevin Murphy, Group Chief Executive, said:
"In September we announced that we would resume our M&A program. The acquisition of high-quality businesses that either broaden our capabilities to better serve our customers or expand our geographic reach remains a central part of our strategy.
"The acquisition of Old Dominion continues our expansion within the HVAC market, giving us greater vendor and product synergies in the Washington D.C. 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.
"We will now rapidly integrate these businesses into our network, and I would like to take this opportunity to welcome our new associates at Old Dominion and ACF to Ferguson."
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For further information please contact:
Ferguson plc:
Bill Brundage, Group Chief Financial Officer:Tel: +1 757 989 2347
Mark Fearon, Director of Corporate Communications and IR:Mobile: +44 (0) 7711 875070
Media Enquiries:
Mike Ward, Head of Corporate Communications:Mobile: +44 (0) 7894 417060
Nina Coad (Brunswick):Tel: +44 (0) 20 7404 5959
Notes to editors:
Ferguson plc is a leading value added distributor of plumbing and heating products to professional contractors principally operating in North America. Revenue for the year ended 31 July 2020 was $19.9 billion and ongoing underlying trading profit was $1.6 billion. Ferguson plc is listed on the London Stock Exchange (LSE: FERG) and is in the FTSE 100 index of listed companies. For more information, please visit www.fergusonplc.com or follow us on Twitter https://twitter.com/Ferguson_plc.