Ferguson purchases 13 companies in fiscal 2016
Ferguson recently announced it purchased a total of 13 companies in fiscal year 2016. The acquisitions spanned coast-to-coast and multiple business types including waterworks, plumbing, fire and fabrication and MRO, in addition to eCommerce companies and appliance and lighting showrooms.
“We added many reputable companies with talented associates to our portfolio this year,” Ferguson CEO Frank Roach said. “Our acquisition pipeline is strong and we will continue to look for companies that integrate seamlessly with our core businesses and align with our corporate culture and values.”
Geographic expansion also is important to Ferguson’s acquisition strategy, the company noted. Ferguson said it focuses on markets where it has a limited presence or high-potential markets.
Michigan waterworks market
Ferguson Waterworks acquired three Michigan-based waterworks companies — Michigan Pipe & Valve, Lansing, Michigan Pipe & Valve, and Flint and Michigan Meter Technology Group in June and July. The acquisitions expand Ferguson’s geographic footprint in the upper Midwest and provides a full waterworks offering in the state. Ferguson Waterworks now has locations in Flushing, Kalamazoo, Lansing, Warren and Madison Heights in Michigan. The locations offer meter lines and service, and with the acquisition of Michigan Meter, Ferguson Waterworks is now the sole distributor of Neptune Water Meters and AMI/AMR in Michigan.
“Our entry into the Michigan waterworks market is a good example of a bolt-on acquisition in a geography Ferguson was not currently servicing,” Roach added. “More importantly, we are pleased to welcome the knowledgeable associates of these three companies to the Ferguson family and look forward to establishing strong customer relationships in the upper Midwest.”
Ferguson’s fiscal year ended July 31. The company said full financial results will be released Sept. 27.