Ferguson has signed definitive purchase agreements to acquire Yorkwest Plumbing Supply, and Grove Supply, and closed on acquiring Harway Appliances.
These acquisitions have aggregate annualized revenues of approximately $220 million.
Ferguson Expands Presence
- Yorkwest Plumbing Supply — Yorkwest is a distributor of plumbing, municipal, hydronics, institutional, HVAC and industrial products in the greater Toronto area.
- Grove Supply — 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 locations include showrooms operating as GSI Bath Showplace.
- Harway Appliances — Harway is a distributor of high-end kitchen appliances for homeowners, custom home builders and designers in Austin, TX. It also grows our delivery and installation capabilities in Austin through Harway’s network of both in-house and third-party delivery and installation teams. The acquisition of Harway Appliances closed on Jan. 8. The Yorkwest and Grove Supply acquisitions are expected to close in the next 90 days, subject to customary closing conditions including regulatory clearance of the Yorkwest acquisition.
“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,” said Ferguson CEO Kevin Murphy. “Our strategy remains twofold: prioritizing organic growth and consolidating fragmented markets through acquisitions that align well with our culture and values.”
Ferguson has a proven successful acquisition record and has completed over 50 acquisitions in the last five years.
The large, fragmented markets in which Ferguson operates comprise 10,000+ small to medium ($10-300 million revenue) independent companies across Ferguson’s nine customer groups in North America.