Ferguson recently acquired Summit Pipe and Supply Co. in an asset transaction completed Dec. 31, 2010.

Fergusonrecently acquiredSummit Pipe and Supply Co.in an asset transaction completed Dec. 31, 2010. Summit is a waterworks distributor with three locations in Northport and Wetumpka, AL, and Jackson, MS.

"Summit is a market leader with very talented associates that will be a tremendous asset to Ferguson as we grow our waterworks footprint in this region," said Ferguson CEOFrank Roach. "Strong vendor alignment coupled with the ability to add continuous territory, filling in between our existing Florida and Baton Rouge Ferguson Waterworks locations, made this an attractive acquisition."

Summit was founded in 2001, by brothersDoug and Mark Pugh. Doug will continue as the Tuscaloosa branch manager and Mark will serve as the area's sales manager. All former Summit locations will operate as satellite locations of the Ferguson Santa Rosa, FL, branch under the leadership of Ferguson General ManagerGeorge Wainwright.Nick Pattersonalso will remain as a branch manager in Jackson, MS.

In other news,Wolseley recently announced Ferguson's first quarter results, showing sales growth in all Ferguson business units. Ferguson's revenue was 10 percent ahead of last year. Demand in residential and RMI markets continued to improve, and the business made good progress in the industrial and waterworks sectors.

Source: Ferguson