Ferguson, Frischkorn Complete Merger
Frischkorn is a PVF distributor headquartered in Richmond, VA and with 14 locations throughout Virginia, Maryland, North Carolina, South Carolina, Georgia, Maryland and Kentucky. For the fiscal year ending October 31, 2004, the company reported sales of $85 million and has forecasted the current fiscal year sales to approach $100 million. Frischkorn employs 215 associates, and Frischkorn's senior management team, including Larry Pearson, president, and Mike Horner, chief executive officer, will remain with the business.
“This is a great opportunity for all Frischkorn associates,” Pearson said. “Maintaining the Frischkorn brand as we continue to provide value to our industrial customers and suppliers was very important to us. Having the resources and financial strength available to us from such a highly respected distributor as Ferguson and its parent company, Wolseley, will certainly accelerate our industrial growth opportunities.”
“The addition of Frischkorn to the Ferguson and Wolseley families will allow us to further establish ourselves in the industrial business along the eastern seaboard,” said Ferguson CEO John Stegeman.