Ferguson PLC Ferguson Acquires HVAC Distributor Airefco, Inc. (4860I)
December 02 2022 - 11:00AM
UK Regulatory
TIDMFERG
RNS Number : 4860I
Ferguson PLC
02 December 2022
Ferguson Acquires HVAC Distributor Airefco, Inc.
Wokingham, England-December 2, 2022- Ferguson plc (NYSE: FERG;
LSE: FERG) announces today the acquisition of Airefco, Inc., a
distributor of HVAC equipment, parts and supplies in the Pacific
Northwest.
Founded in 1957 as a Carrier HVAC distributor, Airefco is
headquartered in Tualatin, Oregon. It employs 191 associates across
eleven locations and distributes Carrier and Bryant brands to
customers in Alaska, Idaho, Montana, Oregon, Washington and
Wyoming.
"Airefco has a strong market reputation for quality associates,
products and customer relationships," said Kevin Murphy, Ferguson
CEO. " Airefco joining Ferguson will support our dual trade
strategy for the plumbing and HVAC contractor and will help us
accelerate the geographic expansion of our HVAC business in the
Pacific Northwest. It will also provide us with a larger
multi-brand footprint and an opportunity to expand the Carrier
network in the region's growing residential and commercial
markets."
"Ferguson is a company that reflects much of the culture that
our associates, customers, vendors and suppliers hold dear," said
JK Hussa, Airefco President and CEO. "They value person-to-person
relationships and will invest wisely in Airefco's future and
continued growth."
Ferguson is committed to growing its HVAC business, where it is
one of the leading distributors in an estimated $70 billion North
American market. It recently acquired Guarino Distributing Company,
LLC, an HVAC distributor in Louisiana and Mississippi, in November
2022; and Aaron & Company, a plumbing and HVAC distributor in
New Jersey, in May 2022.
For its HVAC business, Ferguson partners with a variety of HVAC
manufacturers and distributes equipment, parts and supplies to
specialty and multi-trade contractors for use in residential and
commercial projects. More details on how Ferguson serves HVAC
customers can be found at www.fergusonplc.com .
About Ferguson
Ferguson plc (NYSE: FERG; LSE: FERG) is a leading value-added
distributor in North America providing expertise, solutions and
products from infrastructure, plumbing and appliances to HVAC,
fire, fabrication and more. We exist to make our customers' complex
projects simple, successful and sustainable. Ferguson is
headquartered in the U.K., with its operations and associates
solely focused on North America and managed from Newport News,
Virginia. For more information, please visit www.fergusonplc.com or
follow us on LinkedIn
https://www.linkedin.com/company/ferguson-enterprises .
For further information please contact:
Investor Inquiries Media Inquiries
Brian Lantz John Pappas
Vice President, IR and Communications Director, Financial Communications
Ferguson Ferguson
+1 224 285 2410 +1 484 790 2727
Brian.lantz@ferguson.com John.pappas@ferguson.com
Pete Kennedy
Director, Investor Relations
Ferguson
+1 757 603 0111
Peter.kennedy@ferguson.com
Cautionary note on forward-looking statements
Certain information in this announcement is forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995, and involves risks, assumptions and uncertainties that
could cause actual results to differ materially from those
expressed or implied by forward-looking statements. Forward-looking
statements cover all matters which are not historical facts and
speak only as of the date on which they are made. Forward-looking
statements can be identified by the use of forward-looking
terminology such as "will," "continue, " or other variations or
comparable terminology. Many factors could cause our plans to
differ materially from those in such forward-looking statements,
including, but not limited to: the risk that the initiatives and
priorities described in this announcement may be delayed,
cancelled, suspended or terminated; weakness in the economy, market
trends, uncertainty and other conditions in the markets in which we
operate, and other factors beyond our control, including any
macroeconomic or other consequences of the current conflict in
Ukraine; failure to rapidly identify or effectively respond to
direct and/or end customers' wants, expectations or trends,
including costs and potential problems associated with new or
upgraded information technology systems; the costs and risk
exposure relating to environmental, social and governance matters;
adverse impacts caused by the COVID--19 pandemic (or related
variants); and other risks and uncertainties set forth in our
Annual Report on Form 10-K filed with the Securities and Exchange
Commission ("SEC") on September 27, 2022, under the heading "Risk
Factors," and in other filings we make with the SEC in the future.
Forward-looking statements regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. Other than in accordance
with our legal or regulatory obligations, we undertake no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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