Newport News-based Ferguson acquires large appliance dealer
- January 27, 2014
Ferguson, the country’s largest wholesale plumbing distributor, has completed its acquisition of Karl's Sales and Service Co. LLC (Karl’s Appliance) in a transaction that closed Jan. 20.
Karl’s Appliance, founded in 1941 in Fairfield, N.J., is one of the 30 largest appliance dealers in the country. It will operate under the same name but as a Ferguson enterprise. Ferguson has its headquarters in Newport News.
“We are excited to add Karl’s Appliance to the Ferguson family,” Ferguson CEO Frank Roach said in a statement. “This acquisition further expands our showroom footprint and solidifies our presence in the New York metropolitan area.”
According to Ferguson, Karl’s has six showrooms in northern New Jersey and is the largest appliance resource in the area.
Ferguson plans to expand the company’s products to include plumbing and lighting, transforming the showrooms into a “one-stop shop” for both professional trade customers and homeowners.
“Ferguson will build upon the reputation we’ve already established in the marketplace by adding its full array of kitchen and bath products …” said Karl’s Appliance President Dan Schwartz. “I see this acquisition as a very positive thing for our customers.”
In 2012, Ferguson acquired Davis & Warshow, metro New York's leading residential and commercial plumbing supplier. The company also acquired The Davidson Group in 2007, a leading distributor of pipe and tubing, valves, fittings, and piping accessories in Brooklyn, N.Y.
Ferguson is the largest wholesale distributor of residential and commercial plumbing supplies and pipe, valves and fittings in the U.S. The company also is a major distributor of HVAC equipment, waterworks and industrial products and services.
Ferguson's annual sales in fiscal 2013 were $11.2 billion. The company employs about 19,000 associates in more than 1,350 locations and serves customers in all 50 states, Puerto Rico, Mexico and the Caribbean. Ferguson is a U.S. business of Wolseley plc, which is based in London.