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
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.
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.