Last checked at 19 Feb 2020 14:00
19 February 2020
FERGUSON PLC
Ferguson agrees to acquire Chicago based distributor Columbia Pipe & Supply
Ferguson plc today announces that it has signed a purchase agreement to acquire Columbia Pipe & Supply Co. ("Columbia Pipe"). Columbia Pipe is an independent distributor headquartered in Chicago, Illinois specializing in PVF, commercial mechanical, commercial plumbing, industrial, valve automation, engineered products, and hydronics. The business was founded in 1935 and employs approximately 375 associates, with 16 locations across Illinois, Wisconsin, Minnesota, Michigan, and Indiana. In the year ended 31 December 2019, Columbia Pipe generated revenue of $220 million.
Commenting on the acquisition, Kevin Murphy, Group Chief Executive Officer, said: "Chicago is the third largest city in the US with a substantial commercial market. Columbia Pipe has a strong reputation and well-established vendor and customer relationships in this important region. This acquisition accelerates our Chicago market strategy and will allow us to rapidly expand our existing capabilities across the Mid-West."
The transaction is subject to receipt of regulatory approval from the relevant competition authorities which is expected this fiscal quarter.
For further information please contact:
Ferguson plc:
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 the world's largest specialist trade distributor of plumbing and heating products to professional contractors principally operating in North America. Revenue for the year ended 31 July 2019 was $21.8 billion and ongoing 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.