Move provides entry into the New York City residential and commercial plumbing market.
Ferguson Enterprises, the United States’ largest plumbing
distributor, officially acquired long-standing New York City wholesalerDavis & Warshowin a stock transaction. Davis & Warshow
will continue to conduct business under its own name at its eight wholesale and
seven showroom locations with its management team staying intact.
acquisition is Ferguson’s entry into the very competitive New York City market,
a market where Davis & Warshow has thrived since opening its first location
87 years ago in the Lower East Side. Notably, Supply House Times named Davis
and Warshow its2009 Showroom of the
Year winnerin the 2,500-9,999-sq.-ft. showroom size category.
acquisition of a long-standing, well-respected distributor such as Davis &
Warshow allows us to enter the New York City metropolitan area with a solid
platform for growth and expansion,” said Ferguson CEOFrank Roach.
is Ferguson’s sixth acquisition over the past 14 months. Last week, Ferguson
reported sales of $9.7 billion in the 2012 fiscal year - a 10% increase over
2011.Read herefor the
& Warshow CEOFrank Finkelsays his company will be able to grow with the backing of like-minded company
Ferguson. “Ferguson and Davis & Warshow share the same primary focus - providing
outstanding service and creating loyal customers,” Finkel said. “We will
continue to operate our business the same way we always have and expect to
increase our service level even further with the vast resources of Ferguson
in 2006, Davis & Warshow adopted a 100% Employee Stock Ownership Plan and
since then Finkel and his son, David,
who is company president and COO, have run the company as third and fourth
generation leaders. Davis & Warshow was founded byBernard Davisand he joined forces withLouis Warshowto open a modest
plumbing supply business as New York City emerged as a major metropolitan area.
built a solid foundation for the future,” saidDavid Finkel.
“The benefits of this transaction for our employee owners give us great
satisfaction. We anticipate continued growth and success in the years to come.”