Ferguson closes the fiscal year with ten acquisitions
Adds two acquisitions, expanding both HVAC and Waterworks businesses
Tuesday, August 13, 2024Newport News, VA – August 13, 2024 – Ferguson Enterprises Inc. (NYSE: FERG; LSE: FERG) announces the closing of two acquisitions: Gerster Equipment Co. and United Water Works, Inc. The company closed on ten acquisitions last fiscal year, which ended July 31, 2024.
Gerster Equipment Co.
Headquartered in Buffalo, NY, with a second location in Syracuse, NY, Gerster Equipment is a distributor of Trane and Mitsubishi HVAC brands. This acquisition allows Ferguson to advance its dual-trade strategy by linking HVAC and plumbing in these regions, making it easier for the dual-trade contractor to do business with Ferguson.
United Water Works, Inc.
United Water Works, headquartered in Santa Ana, CA, is a major distributor of piping and water, storm and sewer products serving the Orange County and greater Los Angeles areas. This acquisition expands United Water Works’ product offering to include erosion control and stormwater management products and strengthens Ferguson’s Waterworks presence in Southern California.
“We’ve had a good mix of acquisitions this fiscal year from plumbing and HVAC to waterworks and fire protection,” said Ferguson CEO Kevin Murphy. “These acquisitions are important part of our growth strategy, and our pipeline is strong moving into the next fiscal year.”
Ferguson has a long track record of successful acquisitions and has completed more than 50 acquisitions in the last five years. The large, fragmented markets in which Ferguson operates comprise 10,000+ small to medium ($10-300 million revenue) independent companies across Ferguson’s nine customer groups in North America.
