LONDON, UK: Ferguson plc, a leading distributor of plumbing and heating products, has announced the acquisition of three companies in the U.S. that will strengthen its presence and capabilities in various markets.
The three companies are Bruce Supply Corp, a plumbing distributor in the New York City Metro region; The Kennedy Companies, a waterworks distributor in the mid-Atlantic region; and S. G. Torrice, an HVAC distributor in the New England region.
The acquisitions closed in the fourth quarter of fiscal year ending July 31, 2023, and generate aggregate annualized revenues of approximately $450 million.
Kevin Murphy, Ferguson CEO, said: “Bruce Supply, Kennedy and S. G. Torrice are great cultural fits for Ferguson and will help us better serve commercial mechanical, waterworks, and plumbing and HVAC trade professionals in key growing markets across the U.S. All three companies have great reputations and associates with strong local customer relationships that will help fuel our future organic growth.”
The acquisitions are part of Ferguson’s strategy to expand its product offerings and customer base in North America, where it operates across nine customer groups.
Ferguson has a proven track record of successful acquisitions and has completed more than 50 acquisitions in the last five years.
The large, fragmented markets in which Ferguson operates comprise 10,000+ small to medium ($10-300 million revenue) independent companies across Ferguson’s nine customer groups in North America.
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