Wolseley Acquires Parnell-Martin, Ferguson Buys R Supply
Wolseley plc, Reading, England, parent company of Ferguson Enterprises, acquired wholesaler Parnell-Martin Management LLC, based in Charlotte, N.C., in December. Also in December, Newport News, Va.-based Ferguson acquired R Supply Co. based in Reno, Nev., in a stock transaction.
According to Wolseley, Parnell-Martin had sales of $93 million for the year ended Dec. 31, 2003, and net assets, excluding net debt, of $34.9 million at that date. Parnell-Martin was ranked No. 57 in SUPPLY HOUSE TIMES' 2004 Premier 150 list of wholesalers.