Ferguson Acquires Bruce Supply Corp, The Kennedy Companies and S. G. Torrice

Ferguson plc (NYSE: FERG; LSE: FERG) announces the acquisition of Bruce Supply Corp (Bruce Supply), a plumbing distributor; The Kennedy Companies (Kennedy), 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 generate 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. “All three companies have great reputations and associates with strong local customer relationships that will help fuel our future organic growth.”

Bruce Supply Corp.

Bruce Supply Corp. is a plumbing distributor that serves commercial, mechanical, residential, HVAC and fire and fabrication contractors in the New York City (NYC) Metro region. Founded in 1969, it is headquartered in Brooklyn, NY and has six locations in New York and New Jersey. With this acquisition, Ferguson further enhances our plumbing, pipe, valve and fittings (PVF), hydronics and fire protection and fabrication offerings in the NYC Metro area—the nation’s largest market.

The Kennedy Companies

Founded in 1973 and headquartered in Mount Laurel, NJ, Kennedy is a distributor of piping and related water, storm, sewer, and erosion control products. Kennedy has nine locations in New Jersey, Pennsylvania, Virginia and North Carolina. This acquisition expands Ferguson’s PVF, geotextile, stormwater and erosion control capabilities to more water and waste treatment plant and municipal customers in the mid-Atlantic region.

S. G. Torrice

S. G. Torrice is a distributor of HVAC equipment, parts and supplies in the New England region. Founded in 1958, it is headquartered in Wilmington, MA and has 15 locations in Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. With the closing of this previously announced acquisition, Ferguson can further serve dual-trade plumbing and HVAC professionals in the New England region.

Ferguson has a proven track record of successful acquisitions and has completed more than 50 acquisitions in the last five years. The large, fragmented markets in which Ferguson operates comprise 10,000+ small to medium ($10-300 million revenue) independent companies across Ferguson’s nine customer groups in North America.

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.corporate.ferguson.com or follow us on LinkedIn https://www.linkedin.com/company/ferguson-enterprises.

Contact:

John Pappas – Director of Financial Communications – (484) 790-2727

Source: Ferguson plc