Ferguson Enterprises, Inc., Newport News, VA, has acquired Davis & Warshow, Inc., Maspeth, NY. Davis & Warshow, an 87-year-old residential and commercial plumbing supplier, operates eight wholesale and seven showroom locations. It will continue to conduct business under the Davis & Warshow name with the existing management team remaining in place.
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Davis & Warshow has been employee-owned since 2006, when the company adopted a 100% Employee Stock Ownership Plan (ESOP). Since that time, CEO Frank Finkeland his son, David, who is president & COO, have remained at the helm and represent, respectively, the third and fourth generation of family descended from one of the founders, Bernard Davis.
With another addition to its portfolio earlier this year, Davis & Warshow is Ferguson's sixth acquisition over the past 14 months. Ferguson ended the 2012 fiscal year with sales of $9.7 billion, an increase of 10 percent over last year. Ferguson is part of Wolseley plc (LSE: WOS).
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