WOKINGHAM, ENGLAND / ACCESSWIRE / December 2, 2022 / Ferguson plc (NYSE:FERG; LSE:FERG) today announced that it has acquired Airefco, Inc., a Pacific Northwest distributor of HVAC equipment, parts and accessories.
Founded in 1957 as Carrier’s HVAC distributor, Airefco is headquartered in Tualatin, Oregon. It employs 191 people at 11 locations and sells the Carrier and Bryant brands to customers in Alaska, Idaho, Montana, Oregon, Washington and Wyoming.
“Airefco has a strong reputation in the marketplace for quality people, products and customer relationships,” said Kevin Murphy, CEO of Ferguson. “Airefco’s addition to Ferguson will support our dual commercial strategy for the plumbing and HVAC business and help us accelerate the geographic expansion of our HVAC business in the Pacific Northwest. It will also give us a greater multi-brand presence and the opportunity to expand the carrier network in the region’s growing residential and commercial markets.”
“Ferguson is a company that reflects much of the culture that our employees, customers, vendors and suppliers value,” said JK Hussa, President and CEO of Airefco. “They value personal relationships and will invest wisely in Airefco’s future and continued growth.”
Ferguson is committed to growing its HVAC business, where it is a leading distributor in an estimated $70 billion North American market. The Company recently acquired Guarino Distributing Company, LLC, an HVAC distributor in Louisiana and Mississippi in November 2022; and Aaron & Company, a New Jersey plumbing and HVAC dealership, in May 2022.
For its HVAC business, Ferguson works with a wide variety of HVAC manufacturers, selling equipment, parts and consumables to specialized and multi-industry contractors for use in residential and commercial projects. For more details on how Ferguson serves HVAC customers, visit www.fergusonplc.com.
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, manufacturing and more. We are there to make our customers’ complex projects simple, successful and sustainable. Headquartered in the UK, Ferguson’s operations and partners are focused solely on North America and are managed out of Newport News, Virginia. For more information, please visit www.fergusonplc.com or follow us on LinkedIn https://www.linkedin.com/company/ferguson-enterprises.
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Cautionary Note Regarding 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 the forward-looking statements. Forward-looking statements cover all matters that are not historical facts and speak only as of the date they are made. Forward-looking statements may be identified through the use of forward-looking terms such as “will,” “continue,” or other variations or similar 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 macroeconomic or other consequences of the current conflict in Ukraine; failure to promptly identify or effectively respond to direct and/or end customer desires, expectations or trends, including costs and potential issues associated with new or upgraded information technology systems; the costs and risks related to environmental, social and governance matters; adverse effects of the COVID-19 pandemic (or related variants); and other risks and uncertainties identified in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on September 27, 2022 under the heading “Risk Factors” and other filings, we at 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. Except as required by law or regulation, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Ferguson PLC
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