Ferguson buys two US businesses
Plumbing and heating products distributor Ferguson has bought US-based heating, ventilation and air conditioning wholesale distributor Old Dominion and geotextile company Atlantic Construction Fabrics (ACF) for an undisclosed sum.
Old Dominion distributes HVAC parts and supplies to residential and commercial contractors. The business operates with approximately 40 associates based out of two locations and serves the Washington D.C. metro area, Baltimore, Central Maryland and Northern Virginia. It has annualised revenue of around $55m.
ACF provides geotextile, stormwater and erosion control solutions to the civil construction market primarily along the East coast. Headquartered in Richmond, Virginia, the company operates with approximately 190 associates across 20 locations from Florida to Maine and extending west into Ohio. It has annualised revenue of approximately $100m.
Chief executive Kevin Murphy said: "In September we announced that we would resume our M&A program. The acquisition of high-quality businesses that either broaden our capabilities to better serve our customers or expand our geographic reach remains a central part of our strategy.
"The acquisition of Old Dominion continues our expansion within the HVAC market, giving us greater vendor and product synergies in the Washington D.C. metro area, Maryland and Northern Virginia. ACF adds a large geographic footprint along the East Coast and additional geotextile capabilities which will further diversify our Waterworks business and complement our existing customer offering in geosynthetics, erosion control and stormwater management."