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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.
Cautionary note on forward-looking statements
Certain information in this announcement is
forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995, and involves
risks, assumptions and uncertainties that could cause
actual results to differ materially from those expressed
or implied by forward-looking statements.
Forward-looking statements cover all matters which are
not historical facts and speak only as of the date on
which they are made. Forward-looking statements can be
identified by the use of forward-looking terminology
such as “will,” “continue,” or other variations or
comparable terminology. Many factors could cause our
plans to differ materially from those in such
forward-looking statements, including, but not limited
to: the risk that the initiatives and priorities
described in this announcement may be delayed,
cancelled, suspended or terminated; weakness in the
economy, market trends, uncertainty and other conditions
in the markets in which we operate, and other factors
beyond our control, including any macroeconomic or other
consequences of the current conflict in Ukraine; failure
to rapidly identify or effectively respond to direct
and/or end customers’ wants, expectations or trends,
including costs and potential problems associated with
new or upgraded information technology systems; the
costs and risk exposure relating to environmental,
social and governance matters; adverse impacts caused by
the COVID‐19 pandemic (or related variants); and other
risks and uncertainties set forth under the heading
“Risk Factors” in our Quarterly Report on Form 10-Q for
the quarter ended April 30, 2023 filed with the
Securities and Exchange Commission (“SEC”) on June 7,
2023, in our Annual Report on Form 10-K filed with the
SEC on September 27, 2022, and in other filings we make
with the SEC in the future. Forward-looking statements
regarding past trends or activities should not be taken
as a representation that such trends or activities will
continue in the future. Other than in accordance with
our legal or regulatory obligations, we undertake no
obligation to publicly update or revise any
forward-looking statement, whether as a result of new
information, future events or otherwise.. ###
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