Ferguson Enterprises closed out its fiscal year with a flurry of dealmaking, acquiring four companies in its fourth quarter and bringing the total number of acquisitions for the year to nine. The deals, which collectively add approximately $300 million in annualized revenue, expand Ferguson’s reach across HVAC, water infrastructure, and municipal markets.
The latest round of acquisitions includes:
- HPS Specialties, LLC – A manufacturer’s representative of HVAC, plumbing, and hydronic supplies, HPS serves commercial mechanical and industrial engineering professionals. The June 16 acquisition gives Ferguson a foothold in mechanical room design and specification services in the Northeast and Mid-Atlantic.
- Ritchie Environmental Solutions, LLC – Acquired on June 24, Ritchie Environmental specializes in process equipment for the water and wastewater treatment market in Virginia. Ferguson said the deal strengthens its design capabilities and enhances collaboration on process solutions in that sector.
- Manufactured Duct & Supply Company (MDS) – This Atlanta-based HVAC parts distributor, acquired July 21, brings duct board fabrication capabilities and solidifies Ferguson’s position in the Southeast residential and light commercial HVAC market.
- Water Resources, Inc. – A key distributor of Neptune Technology Group products in the Chicago metro area, Water Resources was acquired July 28. The deal extends Ferguson’s Neptune distribution rights and deepens its presence in a critical municipal market.
“We invest in acquisitions with talented associates, unique product offerings, and established customer and manufacturer relationships that strengthen our ability to serve the water and air specialized professional,” said Ferguson CEO Kevin Murphy.
He added that the company’s fiscal 2025 acquisitions “spanned across six customer groups, strategically supporting our balanced business mix,” and noted the deal pipeline “remains healthy as we move into the next fiscal year.”
Ferguson has completed approximately 50 acquisitions over the past five years. The company continues to pursue bolt-on deals in the highly fragmented North American construction market, which includes more than 10,000 small to mid-sized firms and represents a $340 billion opportunity across residential and non-residential sectors.
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