Ferguson PLC Ferguson agrees to acquire Columbia Pipe & Supply (4776D)
19 Febbraio 2020 - 3:00PM
UK Regulatory
TIDMFERG
RNS Number : 4776D
Ferguson PLC
19 February 2020
19 February 2020
FERGUSON PLC
Ferguson agrees to acquire Chicago based distributor Columbia
Pipe & Supply
Ferguson plc today announces that it has signed a purchase
agreement to acquire Columbia Pipe & Supply Co. ("Columbia
Pipe"). Columbia Pipe is an independent distributor headquartered
in Chicago, Illinois specializing in PVF, commercial mechanical,
commercial plumbing, industrial, valve automation, engineered
products, and hydronics. The business was founded in 1935 and
employs approximately 375 associates, with 16 locations across
Illinois, Wisconsin, Minnesota, Michigan, and Indiana. In the year
ended 31 December 2019, Columbia Pipe generated revenue of $220
million.
Commenting on the acquisition, Kevin Murphy, Group Chief
Executive Officer, said: "Chicago is the third largest city in the
US with a substantial commercial market. Columbia Pipe has a strong
reputation and well-established vendor and customer relationships
in this important region. This acquisition accelerates our Chicago
market strategy and will allow us to rapidly expand our existing
capabilities across the Mid-West."
The transaction is subject to receipt of regulatory approval
from the relevant competition authorities which is expected this
fiscal quarter.
For further information please contact:
Ferguson plc:
Mark Fearon, Director of Corporate Communications and IR: Mobile: +44 (0) 7711 875070
Media Enquiries:
Mike Ward, Head of Corporate Communications: Mobile: +44 (0)
7894 417060
Nina Coad (Brunswick): Tel: +44 (0) 20 7404 5959
Notes to editors:
Ferguson plc is the world's largest specialist trade distributor
of plumbing and heating products to professional contractors
principally operating in North America. Revenue for the year ended
31 July 2019 was $21.8 billion and ongoing trading profit was $1.6
billion. Ferguson plc is listed on the London Stock Exchange (LSE:
FERG) and is in the FTSE 100 index of listed companies. For more
information, please visit www.fergusonplc.com or follow us on
Twitter https://twitter.com/Ferguson_plc.
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END
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