Ferguson continues acquisitive growth strategy

NEWPORT NEWS, Va., Sept. 15, 2016

"We added many reputable companies with talented associates to our portfolio this year," said Ferguson CEO Frank Roach. "Our acquisition pipeline is strong, and we will continue to look for companies that integrate seamlessly with our core businesses and align with our corporate culture and values."

Geographic expansion is also important to Ferguson's acquisition strategy. The company focuses on markets where Ferguson has a limited presence or high-potential markets.

Entry into Michigan waterworks market through acquisition

Ferguson Waterworks, the industry's largest waterworks distributor, acquired three Michigan based waterworks companies – Michigan Pipe & Valve – Lansing, Michigan Pipe & Valve – Flint and Michigan Meter Technology Group in June and July. The acquisitions expand Ferguson's geographic footprint in the upper Midwest and provide a full waterworks offering in the state. Ferguson Waterworks now has locations in Flushing, Kalamazoo, Lansing, Warren and Madison Heights. The locations offer industry-leading meter lines and service, and with the acquisition of Michigan Meter, Ferguson Waterworks is now the sole distributor of Neptune Water Meters and AMI/AMR in Michigan.

"Our entry into the Michigan waterworks market is a good example of a bolt-on acquisition in a geography Ferguson was not currently servicing," added Roach. "More importantly, we are pleased to welcome the knowledgeable associates of these three companies to the Ferguson family, and look forward to establishing strong customer relationships in the upper Midwest."

Ferguson's fiscal year ended July 31. Full financial results will be released on September 27.