Press Release Grif-Fab - Ferguson Enterprises, Inc.
COMMERCE CITY, COLORADO - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to the shareholders of Grif-Fab Corporation ("Grif-Fab") on the sale of the business to Ferguson Fire & Fabrication, Inc. ("Ferguson Fire"), a division of Ferguson Enterprises, Inc. ("Ferguson"), a wholly-owned subsidiary of Wolseley plc (NYSE:WOS). Specific terms of the transaction were not disclosed.
Grif-Fab, founded in 1973, is a leading fabricator and wholesale distributor of fire sprinkler pipe and related products. The business primarily serves fire-sprinkler installation markets in the Western and Midwestern United States through locations in Commerce City, Colorado; Kingman, Arizona; and Albuquerque, New Mexico.
Ferguson is the largest distributor of plumbing supplies and pipes, valves, and fittings in the United States and the third largest distributor of heating and cooling equipment. Ferguson operates through more than 1,300 service centers located throughout the 50 states, the District of Columbia, Puerto Rico, the Caribbean and Mexico. Sales for the year ended July 31, 2006, were $9.65 billion. Wolseley plc is the world's number one distributor of heating and plumbing products to the professional market, and a leading supplier of building materials and services. Wolseley has over $14 billion in sales and approximately 78,000 employees serving customers through over 5,000 branches in 28 countries around the world.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings. Seale Capital, Inc., an affiliate of Seale & Associates, Inc., is a registered broker dealer and member of FINRA and SIPC. All securities related transactions are cleared through Seale Capital, Inc. For more information please visit www.sealeassociates.com.