Ferguson PLC Ferguson acquires Old Dominion and ACF
RNS Number : 6090F
17 November 2020
November 17, 2020
Ferguson acquires Old Dominion Supply, Inc. and Atlantic
Construction Fabrics, Inc.
Ferguson plc today announces the acquisition of Old Dominion
Supply, Inc. ("Old Dominion"), a wholesale distributor of HVAC
parts and supplies in Maryland and Northern Virginia, and Atlantic
Construction Fabrics, Inc. ("ACF"), a geotextile company operating
along the East coast.
Founded in 1962, Old Dominion is a wholesale distributor of HVAC
parts and supplies to residential and commercial contractors. The
company operates with approximately 40 associates based out of two
locations and serves the Washington D.C. metro area, Baltimore,
Central Maryland and Northern Virginia. The company has annualized
revenue of approximately $55 million.
Founded in 1984, 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. The company has
annualized revenue of approximately $100 million.
Commenting on the acquisitions, Kevin Murphy, Group Chief
"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.
"We will now rapidly integrate these businesses into our
network, and I would like to take this opportunity to welcome our
new associates at Old Dominion and ACF to Ferguson."
For further information please contact:
Bill Brundage, Group Chief Financial Officer:
Tel: +1 757 989 2347
Mark Fearon, Director of Corporate Communications and IR:
Mobile: +44 (0) 7711 875070
Mike Ward, Head of Corporate Communications:
Mobile: +44 (0) 7894 417060
Nina Coad (Brunswick):
Tel: +44 (0) 20 7404 5959
Notes to editors:
Ferguson plc is a leading value added distributor of plumbing
and heating products to professional contractors principally
operating in North America. Revenue for the year ended 31 July 2020
was $19.9 billion and ongoing underlying trading profit was $1.6
billion. Ferguson plc is listed on the London Stock Exchange (LSE:
FERG) and is in the FTSE 100 index of listed companies. For more
information, please visit www.fergusonplc.com or follow us on
Twitter https://twitter.com/Ferguson_plc .
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(END) Dow Jones Newswires
November 17, 2020 09:00 ET (14:00 GMT)
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