The 87-year-old company has it's headquarters in Maspeth and operates eight wholesale and seven showroom locations in total. Despite being sold to Ferguson, Davis & Warshow will not only be operating under the same name, but will also keep the existing management team.
“Ferguson and Davis & Warshow share the same primary focus - providing outstanding service and creating loyal customers,” said Frank Finkel, Davis & Warshow CEO. “We will continue to operate our business the same way we always have and expect to increase our service level even further with the vast resources of Ferguson behind us.”
Ferguson operates as a major distributor in Puerto Rico, Mexico and the Caribbean, along with operating in the U.S. The company employees approximately 18,000 people in almost 1,3000 locations.
Davis & Warshow is the sixth acquisition for Ferguson over the past 14 months. The company ended the 2012 fiscal year with sales of $9.7 billion, which is an increase of 10 percent compared to last years numbers.
“The acquisition of a long-standing, well-respected distributor such as Davis & Warshow allows us to enter the New York City metropolitan area with a solid platform for growth and expansion,” Ferguson's CEO Frank Roach said.
Davis & Warshow has been owned and operated by third and fourth generations of the Finkel family, and even survived the Great Depression. Now as the company is being sold, Finkel said that his family created something special and is allowing Ferguson to help them fill in the rest.
“We've built a solid foundation for the future,” said Finkel. “The benefits of this transaction for our employee owners give us great satisfaction. We anticipate continued growth and success in years to come.”