Ferguson PLC on Tuesday announced the addition of two companies to its portfolio. The plumbing and HVAC distribution giant acquired Old Dominion Supply Inc., a wholesale distributor of HVAC parts and supplies in Maryland and Northern Virginia, and Atlantic Construction Fabrics Inc., a geotextile company operating along the East Coast. Financial terms of the two deals weren’t disclosed.
Founded in 1962, Old Dominion is a wholesale distributor of HVAC parts and supplies to residential and commercial contractors. The company operates with approximately 40 associates based out of two locations and serves the Washington, D.C., metro area, Baltimore, Central Maryland and Northern Virginia. The company has annualized revenue of $55 million.
Founded in 1984, ACF provides geotextile, stormwater and erosion control solutions to the civil construction market primarily along the East coast. Headquartered in Richmond, Virginia, the company operates with approximately 190 associates across 20 locations from Florida to Maine and extending west into Ohio. The company has annualized revenue of $100 million.
“In September we announced that we would resume our M&A program,” said Kevin Murphy, group chief executive. “The acquisition of high-quality businesses that either broaden our capabilities to better serve our customers or expand our geographic reach remains a central part of our strategy.
“The acquisition of Old Dominion continues our expansion within the HVAC market, giving us greater vendor and product synergies in the Washington, D.C., metro area, Maryland and Northern Virginia. ACF adds a large geographic footprint along the East Coast and additional geotextile capabilities which will further diversify our Waterworks business and complement our existing customer offering in geosynthetics, erosion control and stormwater management.
“We will now rapidly integrate these businesses into our network, and I would like to take this opportunity to welcome our new associates at Old Dominion and ACF to Ferguson.”
For more on Murphy’s M&A comments and Ferguson becoming acquisitive once again, check out our recent blog.