Ferguson Enterprises Explained

Ferguson, LLC
Type:subsidiary
Foundation:
Birmingham, Alabama, U.S.
Location:Newport News, Virginia
Products:
  • Plumbing supplies, pipe, valves and fittings (PVF)
  • Heating and cooling equipment (HVAC/R)
  • Waterworks
  • Mechanical and industrial
  • Fireplaces and appliances
  • Kitchen, bath and lighting
  • Tools and safety equipment
  • Fire protection products
  • Facilities Maintenance(MRO)
Parent:Ferguson plc
Homepage:www.ferguson.com

Ferguson, LLC, headquartered in Newport News, Virginia, United States, is the largest U.S. distributor of plumbing supplies (under the brand name ProFlo), PVF, waterworks and fire and fabrication products. It is also a major distributor of HVAC equipment and industrial products and services.[1] It ended the 2019 fiscal year with sales of $18.4 billion.[2] This is an increase of 12.2 percent from the previous fiscal year.[3]

History

Ferguson was founded in 1953. The company started with two locations: Lenz Supply and Smither Supply. Expansion continued throughout the Southeast and Ferguson established its headquarters in Newport News, Virginia.

By 1982 Ferguson began to double in size every five years and had locations in 11 states. Wolseley plc then acquired Ferguson. In 1989, Ferguson integrated with West Coast wholesale suppliers Familian and Familian Northwest.

In the late 2000s, Ferguson's growth began to slow as the recession hit traditional construction markets. In response to the market change, Ferguson shifted the business focus on efficiency.[4] Wolseley plc changed its name to Ferguson plc in 2017.[5] Ferguson Enterprises accounts for 90 percent of Ferguson plc's trading profit and is traded on the London Stock Exchange.[6] In 2019, the Board of Ferguson announced an intention to demerge their UK operations so that Wolseley UK and Ferguson could focus on serving their respective customers.[7] In the same year, activist fund Trian Fund Management became an investor of Ferguson Plc with a 6% stake.[8]

Ferguson today

Ferguson's 2019 growth trended on an upward trajectory. The company ended the 2019 fiscal year with sales of $18.4 billion, and reported a growth of 6.2 percent on an organic basis. An additional 4.2 percent of growth came from acquisitions. Ferguson employs over 27,000 associates.[9]

Leadership

Kevin Murphy was appointed CEO in 2017.[10] Alex Hutcherson is COO[11] and Bill Brundage is CFO.[12]

Acquisitions

Acquisitions are a part of Ferguson's business model.[13]

In the fiscal years before 2019, Ferguson made the following acquisitions:

In the 2019 and 2020 fiscal years, Ferguson announced the following acquisitions:

Community involvement

Ferguson has a philanthropic division known as Ferguson Cares.[15] Ferguson is also a National Partner with Homes for Our Troops [16] and SkillsUSA,[17] DIGDEEP [18] the mikeroweWORKS Foundation [19] and IWSH [20] Ferguson also reports efforts to support women in the skilled trades.[21] The company won the Darden Award for Regional Leadership in 2018.[22]

Notes and References

  1. Web site: Ferguson Corporate Profile . Ferguson Pressroom. 4 December 2018.
  2. Web site: Ferguson announces fiscal 2019 results . 15 October 2019 . Supply House Times . 5 March 2020 .
  3. Web site: Ferguson grows revenue by more than 12 percent. Ferguson Pressroom. 6 March 2020.
  4. Web site: Ferguson remains industry force after 60 years. Tara Bozick. 12 June 2013. Daily Press. 4 December 2018.
  5. Web site: Wolseley to change name to U.S. brand Ferguson, reflecting regional focus. Esha Vaish. 28 March 2017. Reuters. 4 December 2018.
  6. Web site: UPDATE 1-Ferguson's profit rises 17.1 percent, led by U.S. residential market. 19 June 2018. CNBC. 4 December 2018.
  7. Web site: Proposed demerger of Wolseley UK, CEO succession and listing structure. . 3 September 2019 . Ferguson Plc . 6 March 2020 .
  8. Web site: Ferguson surges as activist fund Trian takes 6% stake. . 13 June 2019 . Reuters . 5 March 2020 .
  9. Web site: Ferguson: Investing in People to Build Success.. 29 November 2019. PHCP Pros. 5 March 2020.
  10. Web site: New name and a new CEO. 28 March 2017. Virginia Business. 4 December 2018.
  11. Web site: Ferguson announces Alex Hutcherson as COO. 2 August 2017. Plumbing and Mechanical Magazine. 4 December 2018.
  12. Web site: Ferguson names new chief financial officer . 25 April 2017. Daily Press. 4 December 2018.
  13. Web site: Finding the right fit. Robert Powell. 28 September 2018. Virginia Business. 4 December 2018.
  14. Web site: Ferguson remains industry force after 60 years . 2023-01-03 . Daily Press.
  15. Web site: Ferguson Cares. Ferguson. 4 December 2018.
  16. Web site: Ferguson builds partnership with Home for our Troops. 30 March 2016. Bath & Kitchen Pro. 4 December 2018.
  17. Web site: Ferguson partners with SkillsUSA. 20 July 2018. Plumbing & Mechanical Magazine. 4 December 2018.
  18. Web site: Ferguson supports DIGDEEP. . 20 August 2019 . Contractor Mag . 6 March 2020 .,
  19. Web site: Ferguson supports the mikeroweWORKS Foundation Work Ethic Scholarship Program . 20 June 2019 . Ferguson Pressroom . 6 March 2020 .,
  20. Web site: Ferguson partners with IWSH to celebrate World Toilet Day. . 19 November 2019 . Ferguson Pressroom . 6 March 2020 . .
  21. Web site: Ferguson supports women in skilled trades. . 30 August 2019 . Ferguson Pressroom . 6 March 2020 .
  22. Web site: Harvey Lindsay Jr., Ferguson Enterprises win Darden Awards. Sandra J. Pennecke . 24 May 2018. Inside Business: The Hampton Roads Business Journal. 4 December 2018.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Ferguson Enterprises".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.