Ferguson, LLC
Company typesubsidiary
Founded1953; 71 years ago (1953)
Birmingham, Alabama, U.S.
HeadquartersNewport 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)
ParentFerguson plc
Websitewww.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]

References

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