HVAC Breaking News / News

Oct. 25, 2012: Ferguson Acquires Davis & Warshow

October 25, 2012
NEWPORT NEWS, Va. — Ferguson Enterprises Inc., one of the largest wholesale plumbing distributors in the United States, has acquired Davis & Warshow Inc., a leading metro New York residential and commercial plumbing supplier. The 87-year-old company is headquartered in Maspeth, N.Y., and operates eight wholesale and seven showroom locations. It will continue to conduct business under the Davis & Warshow name with the existing management team remaining in place. Ferguson said the acquisition signals its entry into the highly competitive New York market where Davis & Warshow has enjoyed a solid foothold since opening its original Lower East Side storefront.

“Ferguson and Davis & Warshow share the same primary focus — providing outstanding service and creating loyal customers,” said Davis & Warshow CEO Frank Finkel. “We will continue to operate our business the same way we always have and expect to increase our service level even further with the vast resources of Ferguson behind us.”

Ferguson CEO Frank Roach said, “The acquisition of a long-standing, well-respected distributor such as Davis & Warshow allows us to enter the New York City metropolitan area with a solid platform for growth and expansion.” With another addition to its portfolio earlier this year, Davis & Warshow is Ferguson’s sixth acquisition over the past 14 months. Ferguson ended the 2012 fiscal year with sales of $9.7 billion, an increase of 10 percent over last year.

In 2006, Davis & Warshow became employee-owned, adopting a 100 percent Employee Stock Ownership Plan (ESOP). In that time, Finkel and his son, David, who is president and COO, have remained at the helm and represent, respectively, the third and fourth generation of family descended from one of the founders, Bernard Davis. He partnered with Louis Warshow to open the plumbing supply business just as New York City was emerging as a major metropolitan center. The company weathered the Depression and other building booms and busts, demonstrating resilience throughout the decades.

“We’ve built a solid foundation for the future,” added David Finkel. “The benefits of this transaction for our employee owners give us great satisfaction. We anticipate continued growth and success in the years to come.”

Ferguson is one of the largest wholesale distributors of residential and commercial plumbing supplies and pipe, valves, and fittings in the U.S. The company is also a major distributor of HVACR equipment, waterworks, and industrial products and services. For more information, visit www.ferguson.com.

Publication date: 10/22/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con