Ferguson buys plumbing supplier
HVAC and plumbing wholesaler Ferguson has bought New York-based plumbing supplier Davis & Warshow Inc. as part of a stock deal. Further terms were not disclosed.
The 87-year-old plumbing supply company will continue to operate under its existing name with current management, officials said.
"Ferguson and Davis & Warshow share the same primary focus — providing outstanding service and creating loyal customers," said Davis & Warshow CEO Frank Finkel. "We will continue to operate our business the same way we always have and expect to increase our service level even further with the vast resources of Ferguson behind us."
Ferguson Enterprises Inc. CEO Frank Roach said the purchase of Davis & Warshow will help it better compete in the area around New York City.
"The acquisition of a long-standing, well-respected distributor such as Davis & Warshow allows us to enter the New York City metropolitan area with a solid platform for growth and expansion," Roach said.
Davis & Warshow is Ferguson's sixth acquisition in the past 14 months. Ferguson ended the 2012 fiscal year with $9.7 billion in sales — an increase of 10 percent over last year.