FERG - Ferguson looks to boost revenue on multiple acquisitions
2023-08-02 10:14:34 ET
- Ferguson Plc ( NYSE: FERG ) announced acquisitions of Bruce Supply Corp, a plumbing distributor, The Kennedy Companies, a waterworks distributor, and S. G. Torrice, an HVAC distributor.
- All three acquisitions closed in the fourth quarter of fiscal year ending July 31, 2023, and generated aggregate annualized revenues of approximately $450 million.
- “Bruce Supply, Kennedy and S. G. Torrice are great cultural fits for Ferguson and will help us better serve commercial mechanical, waterworks, and plumbing and HVAC trade professionals in key growing markets across the U.S.,” said Kevin Murphy, Ferguson CEO.
- FERG -1.3% premarket to $160.03
- Source: Press Release
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Ferguson looks to boost revenue on multiple acquisitions