Ferguson plc (NYSE: FERG; LSE: FERG), Wokingham, England, has signed definitive purchase agreements to acquire Yorkwest Plumbing Supply Inc. and Grove Supply Inc., and closed on the acquisition of Harway Appliances.
These acquisitions have aggregate annualized revenues of approximately $220 million.
Yorkwest is a distributor of plumbing, municipal, hydronics, institutional, HVAC and industrial products in the greater Toronto area. Each of Yorkwest’s four locations includes a kitchen and bath showroom branded as Atlantis Bath Centre. Yorkwest’s business operations will be integrated into Ferguson’s subsidiary in Canada, Wolseley Canada.
Grove Supply is a plumbing and HVAC distributor that serves the residential trade, builder and remodel markets. Grove Supply has 17 locations across Pennsylvania and New Jersey, and six of the locations include showrooms that operate as GSI Bath Showplace. This acquisition expands Ferguson’s plumbing and HVAC presence in Metro Philadelphia and will allow it to better serve local dual-trade professionals.
Harway is a distributor of high-end kitchen appliances for homeowners, custom home-builders and designers in Austin, TX. This acquisition strengthens Ferguson’s showroom presence in one of the fastest-growing markets in the country and offers an opportunity for further expansion into the plumbing and lighting categories. It also grows our delivery and installation capabilities in Austin through Harway’s network of in-house and third-party delivery and installation teams.
Ferguson has completed more than 50 acquisitions in the past five years.