12th Nov 2019 14:13
(Alliance News) - Ferguson PLC on Tuesday said it has acquired SW Anderson Sales Corp, a US-based heating, ventilation, and air conditioning equipment distributor.
No financial details of the deal were disclosed.
The FTSE 100-listed plumbing products supplier said SW Anderson will complement its existing heating, ventilation, and air conditioning business by offering additional product lines to its customers and "even greater" choice.
SW Anderson is working with residential and commercial contractors, retailers and commercial property owners. The New-York-headquartered company employs 150 associates across 10 locations and in 2018 it generated revenue of USD90 million.
"Ferguson is committed to growing our business in the New York metro area, which is one of the largest and most attractive markets in the US," said Kevin Murphy, chief executive of Ferguson Enterprises.
"Through these acquisitions Ferguson can now offer an even wider selection of equipment to meet our customers' needs," added Murphy.
Ferguson shares were trading 0.4% higher in London on Tuesday at 6,760.00 pence each.
By Evelina Grecenko; [email protected]
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