Ferguson plc announced that it has signed a purchase agreement to acquire Columbia Pipe & Supply Co. (Columbia Pipe). Columbia Pipe is an independent distributor headquartered in Chicago, specializing in PVF, commercial mechanical, commercial plumbing, industrial, valve automation, engineered products, and hydronics. The business was founded in 1935 and employs approximately 375 associates, with 16 locations across Illinois, Wisconsin, Minnesota, Michigan, and Indiana. In the year ended Dec. 31, 2019, Columbia Pipe generated revenue of $220 million.
Commenting on the acquisition, Kevin Murphy, Group CEO, said, “Chicago is the third largest city in the US with a substantial commercial market. Columbia Pipe has a strong reputation and well-established vendor and customer relationships in this important region. This acquisition accelerates our Chicago market strategy and will allow us to rapidly expand our existing capabilities across the Mid-West.”
The transaction is subject to receipt of regulatory approval from the relevant competition authorities which is expected this fiscal quarter.