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Ferguson Enterprises

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Ferguson Enterprises Inc.
Company typePublic company
Founded1953; 71 years ago (1953)
Birmingham, Alabama, U.S.
HeadquartersNewport News, Virginia
Key people
Kevin Murphy, President & CEO
William Brundage, CFO
Geoffrey Drabble, Chairman
ProductsPlumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF)
Revenue
  • Decrease US$29.634 billion (July 31, 2024)
  • Decrease US$2.652 billion (July 31, 2024)
  • Decrease US$1.735 billion (July 31, 2024)
Total assets
  • Increase US$16.572 billion (July 31, 2024)
Total equity
  • Increase US$5.616 billion (July 31, 2024)
Number of employees
Approximately 35,000 (July 31, 2024), including 32,000 in the United States and 3,000 in Canada
Websitewww.ferguson.com
www.build.com
Footnotes / references
[1]

Ferguson Enterprises Inc., headquartered in Newport News, Virginia and organized in Delaware, is the largest U.S. distributor of plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF), and water and wastewater products.[1] The company receives 95% of its revenue in the United States and 5% of its revenue in Canada.[1] The company has 36,000 suppliers and operates from 11 regional distribution centers, four MDCs, approximately 5,900 fleet vehicles, and 1,773 branches.[1] Build.com is the company's primary online shopping channel. Its primary competitors are Amazon.com in e-commerce and Home Depot in retail.[2]

In August 2024, Ferguson plc merged into the company.[3][4][5]

History

[edit]

Ferguson was founded in 1953. The company started with two locations: Lenz Supply and Smither Supply. Expansion continued throughout the Southeast and Ferguson established its headquarters in Newport News, Virginia.

In 1982, Wolseley UK acquired the company for $30.7 million.[6]

In 1989, Ferguson merged with Familian.[7]

The company laid off thousands of workers during the Great Recession due to a slowdown in business.[8]

In 2012, the company acquired Power Equipment Direct.[8]

In 2016, Ferguson acquired Signature Hardware for $210 million.[9] The sellers later sued the company for failing to make earn-out payments.[10]

Wolseley plc changed its name to Ferguson plc in 2017. [11]

In the 2019 and 2020 fiscal years, Ferguson acquired Columbia Pipe & Supply,[12] S.W. Anderson[13] Process Instruments,[14] Innovative Soil Solutions and Action Plumbing Supply,[15] Mission Pipe,[16] and Kitchen Art.[17]

In August 2024, Ferguson plc merged into the company.[18][19][20]

Community involvement

[edit]

Ferguson has a philanthropic division known as Ferguson Cares.[21] Ferguson is also a National Partner with Homes for Our Troops [22] and SkillsUSA,[23] DIGDEEP [24] the mikeroweWORKS Foundation [25] and IWSH [26] Ferguson also reports efforts to support women in the skilled trades.[27] The company won the Darden Award for Regional Leadership in 2018.[28]

References

[edit]
  1. ^ a b c d "Ferguson Enterprises Inc. Form 10-K for the Fiscal Year Ended December 31, 2023". U.S. Securities and Exchange Commission. September 25, 2024.
  2. ^ Bernard, Brian (March 5, 2024). "Acquisitions Will Help Ferguson Grow Faster Than Subdued End Markets in Fiscal 2024". Morningstar, Inc.
  3. ^ "Ferguson Enterprises Inc.: Establishment of new corporate structure, cancellation of Ferguson plc listing and admission of Ferguson Enterprises Inc. common stock" (Press release). Business Wire. 1 August 2024.
  4. ^ "Ferguson parent company headquartered in Newport News". The Virginian-Pilot. 28 August 2024.
  5. ^ "Ferguson changes parent company to Ferguson Enterprises amid US shift". Market Screener. 1 August 2024.
  6. ^ "Ferguson Enterprises". The New York Times. Reuters. 19 May 1982.
  7. ^ "Major Merger Completed by Ferguson, Familian". Residential Design. October 1, 1999.
  8. ^ a b Bozick, Tara (12 June 2013). "Ferguson remains industry force after 60 years". Daily Press.
  9. ^ Demeropolis, Tom (October 20, 2016). "One of Cincinnati's largest and fastest-growing companies acquired". American City Business Journals.
  10. ^ "MATTHEW C. BUTLER, Plaintiff-Appellant, v. FERGUSON ENTERPRISES, INC., Defendant-Appellee". May 10, 2021.
  11. ^ Vaish, Esha (28 March 2017). "Wolseley to change name to U.S. brand Ferguson, reflecting regional focus". Reuters.
  12. ^ "Ferguson acquires Chicago's Columbia Pipe & Supply". AJ Bell. February 19, 2020.
  13. ^ "Ferguson acquires S.W. Anderson HVAC Supply". Ferguson Pressroom. 12 November 2019.
  14. ^ "Wolseley Industrial Group acquires Process Instruments & Controls, LLC". Ferguson Pressroom. 9 September 2019.
  15. ^ "Ferguson expands geotextile and erosion control capabilities through recent acquisition". Ferguson Pressroom. 30 July 2019.
  16. ^ "Ferguson acquires Mission Valley Pipe & Supply". Ferguson Pressroom. 5 June 2019.
  17. ^ "Ferguson acquires Kitchen Art". Ferguson Pressroom. 5 February 2019.
  18. ^ "Ferguson Enterprises Inc.: Establishment of new corporate structure, cancellation of Ferguson plc listing and admission of Ferguson Enterprises Inc. common stock" (Press release). Business Wire. 1 August 2024.
  19. ^ "Ferguson parent company headquartered in Newport News". The Virginian-Pilot. 28 August 2024.
  20. ^ "Ferguson changes parent company to Ferguson Enterprises amid US shift". Market Screener. 1 August 2024.
  21. ^ "Ferguson Cares". Ferguson. Retrieved 4 December 2018.
  22. ^ "Ferguson builds partnership with Home for our Troops". Bath & Kitchen Pro. 30 March 2016. Retrieved 4 December 2018.
  23. ^ "Ferguson partners with SkillsUSA". Plumbing & Mechanical Magazine. 20 July 2018. Retrieved 4 December 2018.
  24. ^ "Ferguson supports DIGDEEP". Contractor Mag. 20 August 2019. Retrieved 6 March 2020.,
  25. ^ "Ferguson supports the mikeroweWORKS Foundation Work Ethic Scholarship Program". Ferguson Pressroom. 20 June 2019. Retrieved 6 March 2020.,
  26. ^ "Ferguson partners with IWSH to celebrate World Toilet Day". Ferguson Pressroom. 19 November 2019. Retrieved 6 March 2020..
  27. ^ "Ferguson supports women in skilled trades". Ferguson Pressroom. 30 August 2019. Retrieved 6 March 2020.
  28. ^ Sandra J. Pennecke (24 May 2018). "Harvey Lindsay Jr., Ferguson Enterprises win Darden Awards". Inside Business: The Hampton Roads Business Journal. Retrieved 4 December 2018.
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