Ferguson Enterprises continued its expansion, averaging one new deal a month and purchasing a total of 13 new companies for fiscal year 2015, which concludes July 31.
The acquisitions spanned coast-to-coast and multiple business types, including waterworks, HVAC and plumbing distributors, in addition to e-commerce companies and appliance and lighting showrooms.
“Throughout Ferguson’s 62-year history, acquisitions have played a major role in our growth – M&A is an important component of our growth strategy,” Ferguson CEO Frank Roach said. “We view acquisitions as more than bricks and mortar, it’s about people. Ferguson has been fueled by a continual stream of talented associates and fresh ideas that help shape our business strategy and make us a better company.”
Ferguson noted it looks for companies that integrate seamlessly with its core businesses, described as “bolt-on” acquisitions. Geography also is a key consideration.
“We focus on markets where Ferguson has a limited presence or in existing markets where there is high-potential,” Roach stated.
The company’s acquisition activity, it said, aligns with KPMG’s M&A Outlook, which reported M&A in the U.S. has finally reached pre-crisis levels and found that acquisition momentum is expected to build throughout 2015.
Ferguson’s year-end results will be released on Sept. 29, 2015.