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Headquarters: Newport News, VA
2016 Revenues: $13.8 billion
Change in Sales from 2015: 6.2%
Number of New Locations: 31
2016 Acquisitions: PCS Industries, Andrews Lighting Gallery, The Bath + Beyond and Dealernet, Bruce-Rogers Company, Michigan Pipe & Valve- Flint, Michigan Pipe & Valve- Lansing, Michigan Meter Technology Group, Signature Hardware, Westfield Lighting Company, Ramapo Wholesalers, Inc., The Plumbing Source, Underground Pipe Valve, Inc., Matera Paper Company, Inc.
Key Executives: Frank Roach, CEO; Kevin Murphy, COO; Bill Brundage, CFO
Ferguson grew in 2016 through both acquisitions (13) and new locations (31). "The residential market continues to show strength," the company wrote in its MDM Market Leaders nomination form. "Sales of new and existing homes, on an annualized rate, are outpacing last year by 3.7 percent and 6.1 percent, respectively. Meanwhile, the price of U.S. homes continues to increase, hitting a 31-month high in January. This suggests the residential market maintains healthy demand, which should encourage even further new construction."
The company added, "Although we’re optimistic concerning the industrial and manufacturing space, challenges still exist within these sectors. In the long-term, as oil and other commodity prices continue to find new footings, the sector will be poised to grow strongly."
Plenty of change is on the horizon for Ferguson. The company recently divested its fasteners division, Endries International Inc., Brillion, WI, to the private equity firm Nautic Partners LLC.
Global parent company Wolseley plc announced in early 2017 that it would adopt the name Ferguson for the entire group. “We are proud to have the Wolseley Group adopt the Ferguson name. We have built a very strong brand over the last 64 years and are known for our performance reputation,” Ferguson CEO Frank Roach said. “The Ferguson name best represents the group today and will help create greater shareholder interest in the U.S.”
The rebrand will take effect on Aug. 1. Roach is retiring July 31 and will be replaced by Ferguson COO Kevin Murphy.