Ferguson acquires 3 companies

U.K. plumbing and heating products distributor Ferguson plc has agreed to acquire two North American companies and closed on a third acquisition, the company announced Tuesday. Ferguson plc is the parent company of Newport News-based plumbing, HVAC and industrial product distributor Ferguson Enterprises.

Ferguson has agreed to acquire Toronto-based Yorkwest Plumbing Supply, a distributor of plumbing, municipal, hydronics, institutional, HVAC and industrial products in the Toronto area. Yorkwest’s business operations will be integrated into Ferguson’s subsidiary in Canada. Yorkwest was founded in 1990.

The other acquisition is Pennsylvania-based Grove Supply, a plumbing and HVAC distributor that serves the residential trade, builder and remodel markets with locations across Pennsylvania and New Jersey. Grove Supply opened in 1948 and has 17 locations.

Ferguson closed a deal to acquire Austin, Texas-based Harway Appliances, a distributor of high-end kitchen appliances for homeowners, custom builders and designers, on Monday. It strengthens the company’s presence in Austin and grows its delivery and installation capabilities. The Yorkwest and Grove Supply acquisitions are expected to close in the next 90 days.

“As we acquire new businesses, we place tremendous value on the expertise of the talented associates and the customer relationships they bring to the business,” Ferguson CEO Kevin Murphy said in a statement. “Our strategy remains twofold: prioritizing organic growth and consolidating fragmented markets through acquisitions that align well with our culture and values.”

The purchase amounts of the acquisitions were not disclosed, but Ferguson said the acquisitions have aggregate annualized revenues of approximately $220 million.

Ferguson has 35,000 employees — all but 3,000 in the United States, with the rest in Canada. It has 11 national distribution centers, three market distribution centers and 1,750 branches.