Why This Matters to Distributors: Ferguson has generated most of its revenue in North America for years, but its stock continued to trade in both New York and London. By leaving the London Stock Exchange, Ferguson is formally aligning its corporate structure with the market it serves, completing a yearslong transformation from its roots as U.K.-based Wolseley plc into a North American distributor headquartered in Virginia.
Ferguson Enterprises will end trading of its shares on the London Stock Exchange next month, completing a strategic shift that has steadily transformed the company into a U.S.-based business.
The distributor says that it intends to cancel its secondary London listing effective July 20. Ferguson shares will continue trading on the New York Stock Exchange, where the company moved its primary listing in 2022.
The move marks the final step in a multiyear effort to align Ferguson’s corporate structure with its operations. While the company traces its roots to the United Kingdom, it has spent more than a decade reshaping itself around the North American market through divestitures, acquisitions and a series of corporate changes that culminated in its rebranding from Wolseley plc to Ferguson from 2017 until 2021.
Today, Ferguson’s business is entirely concentrated in North America. The company said trading activity in New York now significantly exceeds that in London, its shareholder base is North American, and maintaining a secondary U.K. listing no longer serves a strategic purpose.
“Completes alignment with the Company’s pure North American business profile and operations, headquarters and leadership with its listing structure,” Ferguson said in announcing the decision.
The company is headquartered in Newport News, Virginia, and operates more than 1,700 locations across the United States and Canada. Ferguson reported calendar 2025 sales of $31.3 billion and employs approximately 35,000 associates.
The London delisting is not expected to affect customers, suppliers, or day-to-day operations. Shareholders who hold Ferguson stock through U.S. brokerage accounts also will see no change. Trading on the London Stock Exchange is scheduled to end July 17, with the delisting taking effect three days later.
For the distribution industry, the announcement is less about financial markets than corporate identity. Ferguson has long been viewed as a North American distributor, generating most of its business from U.S. and Canadian plumbing, HVAC, waterworks, and industrial markets. The London exit simply formalizes a reality that has existed for years.
When the delisting becomes effective, Ferguson will no longer maintain a stock market presence in the country where the company originated. Instead, it will stand as a publicly traded company listed solely in the United States, reflecting where its customers, employees, leadership, and growth opportunities are concentrated.
The company said it expects existing arrangements for U.K.-based shareholders to remain in place until early 2027 as investors transition their holdings to U.S. trading platform.
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