Building Materials Holding Corporation, San Francisco, CA, announced its wholly owned subsidiary, SelectBuild Construction, Inc. has completed the acquisition of the remaining 27% of Riggs Plumbing LLC.   ; Riggs provides turnkey rough and finish plumbing installation to high-volume residential builders in the Phoenix and Tucson markets and in 2006 had sales of approximately $90 million.   ; SelectBuild acquired its initial interest of 60% of Riggs in April 2005 and acquired an additional 13% in July 2005.   ; BMHC is a provider of services and building materials in the U.S., serving the homebuilding industry through two subsidiaries: SelectBuild provides construction services to high-volume production homebuilders in growth markets across the country; ...
Ferguson has acquired Grif-Fab Corporation, a distributor and fabricator of fire protection systems with three locations in Colorado, Arizona and New Mexico. In the year ended Nov. 30, 2006, Grif-Fab had revenue of $28.3 million.
UK-based Wolseley plc, Ferguson's parent company, has recently made three other bolt-on acquisitions in addition to the Grif-Fab buy. The four in total will add 29 million pounds, or $37.7 million, to annual revenues.
Since Aug. 1, 2006, Wolseley has made 33 acquisitions in Europe and North America totaling 342 million pounds, or $458 million.
Watsco, Inc., distributor of air conditioning and heating products, reported sales of $1.8 billion in 2006, a 7% increase from 2005. Profit was $82.4 million.
Fourth-quarter sales were $388 million.
; “2006 was one of enormous change as virtually half the products we sell were transitioned to new families of higher-efficiency products. We expect these new products to provide a unique and sustainable sales opportunity for us given consumers' high degree of sensitivity and focus on energy costs, President and CEO Albert H. Nahmad said.
The Watsco network expanded by 28 locations in 2006, including locations opened to enhance local service and locations acquired adding new customers, products and market share. Revenues contributed by new ...
Ferguson has acquired Cal-Steam Supply Inc., a distributor of plumbing products with 10 locations in the San Francisco Bay area. Cal-Steam had sales of $148.6 million in the year ended Dec. 31, 2005.
Ferguson's parent company, Wolseley, says the acquisition will benefit from its new Stockton, CA, distribution center to be completed later this year.
Ferguson has also acquired Guntersville Fabrication and Sprinkler Co. Inc. and Guntersville Pipe and Supply. Guntersville distributors and fabricates fire protection systems with three locations in the Southeast. It serves Ohio, Florida, Georgia and Louisiana.
Guntersville had sales of $31.5 million in the year ended Oct. 31, 2006.
Ferguson, Newport News, VA, has purchased Endries International, Inc. and Endries Incorporated, Brillion, WI, in a pair of stock transactions completed Sept. 30, 2005. Endries is an ISO-certified, international provider of vendor managed inventory (VMI) and MRO services for original equipment manufacturers with industrial fasteners representing the bulk of their volume. Endries has annual sales of approximately $150 million and employs 500 associates.
In addition to the headquarters in Brillion, the acquisition includes leased locations in the U.S. as well as locations at customer sites. Domestically the organization has associate representation in approximately 30 states. The company also has operations in Canada, the U.K. and the Netherlands.
MDM asked Jim Feltman, Ferguson vice president of sales, to offer some additional details on the acquisition of Full Service Supply:
MDM: What does Ferguson's integrated supply customer base look like?
JF: Our customer base is comprised of Automotive, Aerospace, Transportation, Contractor Services, Medical, Pharmaceutical, Semi-Conductor, Refining and miscellaneous manufacturing segments. Our customer base now becomes significantly more diversified.
MDM: Is there overlap with FSS?
JF: We segment our sourcing activities into numerous commodities and have placed significant focus on cutting tools. While there is some overlap across each group's customer base, the core focus of the two organizations has been different (Ferguson on full line MRO ...
In a $250-million cash tender offer, WinWholesale, Dayton, OH, an equity partner in more than 400 local distributors across multiple industrial lines, has signed a merger agreement with Noland Company, a $550-million publicy-held, third-generation family-run distributor of plumbing, electrical, HVAC, mechanical equipment and supplies in the Southeast. WinWholesale expects to take Noland private and delist it from the NASDAQ stock exchange.
Rare is the match made in heaven, but this deal offers the Noland family a golden exit strategy, investors a huge premium and reward for extreme patience with the stock for many years, and WinWholesale a very compatible growth platform, not to mention an immediate 40% revenue bump. Potentially, customers and employees gain a continued ...
In a move that shifts the competitive landscape for the integrated supply market inNorth America, plumbing/PVF distributor Ferguson Enterprises is buying Kennametal's integrated supply business, Full Service Supply, for $41 million. FSS reported 2004 revenues of $138.4 million, serving 100 customers across 33 states in the USA and one province of < Canada. Ferguson's Integrated Systems Division manages the procurement of $225 million in MRO products/services for 30 plants nationwide. By most estimates, the deal creates the second largest integrated supply business behind Bruckner Supply, and unshackles FSS from the inherent channel conflict Kennametal had to manage against its other distribution channels.
Hughes Supply,Orlando, FL, a distributor of construction, repair and maintenance- related products, reported revenues for the fourth quarter ended Jan. 31, 2005 were $1.12 billion, an increase of 41% from $796 million in the previous year's fourth quarter. Organic sales growth was 16%, with double-digit growth reported in the majority of the business segments for the fourth consecutive quarter. Net income grew 120% to $20.7 million compared to $9.4 million in the prior year's fourth quarter.
Fiscal year 2005 annual revenues were $4.42 billion, up 36% from $3.25 billion in the previous year. Organic sales grew at a record 16%, with double-digit growth reported in six of eight business segments. Annual net income grew 114% to $123.7 million from $57.7 million in the ...
Independent Distributors Cooperative-USA, Indianapolis, IN, has finalized negotiations with HVAC/R distributor cooperative Johnstone Supply to launch their first national service account. The deal offers an initial product offering from IDC-USA, with a planned product expansion to include its lines of industrial bearing, power transmission and MRO products. The Johnstone account is part of an IDC-USA market strategy of cooperatives doing business with cooperatives.
The agreement positions IDC-USA to serve as a master distributor to the 300 independently owned Johnstone Supply stores nationally. The focus for IDC-USA is on the service capabilities of independent distributors, with over 200 locations across the U.S. and $650 million in annual sales. "While national ...