Steve Endries Stays With Company After Sale to Ferguson
Steve Endries Stays With Company After Sale to Ferguson
Jason Sandefur
Steve Endries will remain with Endries International following the sale of his company to Norfolk, VA-based Ferguson Enterprises on September 30.
“Ferguson is excited to have the Endries family as part of our team,” commented Ferguson CEO John Stegeman. “Their expertise in the fastener business combined with vendor managed inventory and materials handling capabilities offers our company great opportunities for further growth and process improvement.”
FastenerNews.com first reported the sale on October 5. The sale included Endries’ headquarters in Brillion, WI, as well as leased locations in the U.S. Details of the acquisition were not disclosed.
Endries will now operate as part of Ferguson’s Commercial/Industrial business group and will continue to trade as Endries International and Endries Inc.
In a written statement, Ferguson said Endries would provide the company with “expansion opportunities in the fastener and VMI business area.”
Founded in 1970, Endries operated as a family-owned fastener distributor and inventory management company for 35 years. The Brillion, WI-based firm employs 500 people and has annual sales of $150 million. Web: endries.com
Newport News, VA-based Ferguson distributes plumbing supplies, pipes, valves and fittings from more than 1,000 locations in the U.S., Mexico and Puerto Rico. Ferguson is owned by the UK-based Wolseley Group, which had sales of $19.8 billion in fiscal 2005. Web: ferguson.com �2005 FastenerNews.com
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