IN BRIEF: Ferguson Enterprises closes buys of Gerster and United Water

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Ferguson Enterprises Inc - Newport News, Virginia-based heating and plumbing products distributor - Completes acquisitions of Gerster Equipment Co and United Water Works Inc. Ferguson Enterprises highlights it closed the financial year that ended July 31 with 10 acquisitions. Gerster is a Buffalo, New York-based distributor of Trane and Mitsubishi heating, ventilation & air conditioning brands. Santa Ana, California-based United Water Works is a distributor of piping and water, storm and sewer products serving the Orange County and greater Los Angeles areas.

‘We’ve had a good mix of acquisitions this fiscal year from plumbing and HVAC to waterworks and fire protection,’ says Ferguson Chief Executive Officer Kevin Murphy. ‘These acquisitions are important part of our growth strategy, and our pipeline is strong moving into the next fiscal year.’

Current stock price: 15,100.00 pence each, down 1.6% on Tuesday afternoon in London

12-month change: up 19%

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