Ferguson Waterworks recently acquired Underground Pipe & Valve in an asset transaction completed in mid-November. Charter Capital Partners served as financial advisor to Underground Pipe & Valve.
Headquartered in South Bend, Ind., Underground Pipe & Valve has been in business for nearly 40 years and offers a full line of water and sewer products through its four locations in Indiana and Michigan. The acquisition complements the new Ferguson Waterworks locations from the recent acquisitions of Michigan Pipe & Valve – Lansing, Michigan Pipe & Valve – Flint and Michigan Meter Technology Group.
“Growing our brick-and-mortar locations is an integral part of our growth strategy, and our recent waterworks acquisitions in the upper Midwest will position us a true competitor in the local market,” Ferguson CEO Frank Roach said. “We are pleased to welcome Underground Pipe & Valve’s associates to Ferguson.”
Underground Pipe & Valve owner Don Nuner added: “While we have been successful as an independent distributor for some time, we are excited about the chance to become part of the Ferguson family. We feel Ferguson brings added value to our customers and good long-term opportunities for our employees.”
Ferguson Waterworks, a division of Ferguson Enterprises, has more than 200 locations and 2,000 dedicated Waterworks associates. Read more at Supply House Times