Ferguson completes acquisition of FloWorks
Acquisition increases total addressable market to $400 billion and expands non-residential value-added capabilities
NEWPORT NEWS, VA – Ferguson (NYSE: FERG), North America’s largest value-added distributor of essential water and air solutions, announced today that it has completed its acquisition of FWI Holdings, Inc. (“FloWorks”), a leading industrial distributor and service provider of highly technical valves and flow control solutions, from Wynnchurch Capital L.P. The deal officially closed on August 31 following the satisfaction of all customary closing conditions.
“We are pleased to officially welcome the FloWorks team to Ferguson,” said Ferguson CEO Kevin Murphy. “Together, we strengthen our ability to serve customers across the non-residential market by combining our national scale and distribution expertise with FloWorks’ deep technical capabilities in valves, automation, rotating equipment and fluid handling. Most importantly, we are gaining talented associates with strong customer relationships and specialized expertise that will help us deliver even more value across North American construction markets.”
“Joining Ferguson creates meaningful opportunities for our associates and customers,” said Scott Jackson, CEO of FloWorks. “Ferguson’s scale, supply chain capabilities and product depth will help us serve customers more efficiently while continuing to deliver the technical expertise and trusted relationships FloWorks is known for. We look forward to growing together as a combined team and leveraging the unique strengths that each company has to offer, while preserving the special qualities that make both of our organizations great.”
For more information on the FloWorks acquisition, including revenue synergies, please refer to the pre-close announcement.
