Ferguson to Acquire FloWorks; Increasing Non-Residential Capabilities

Ferguson Enterprises Inc. announced it has entered into a definitive agreement to acquire FWI Holdings, Inc. (“FloWorks”), an industrial distributor and service provider of highly technical valves and flow control solutions, from Wynnchurch Capital L.P.

The cash transaction values FloWorks at an enterprise value of approximately $1.6 billion. Ferguson expects to realize significant revenue synergies as well as certain cost synergies from network optimization, logistics and technology.

Based in Houston, FloWorks generated approximately $1 billion in revenue in 2025. For more than 65 years, the company has been a flow control distributor with more than 60 locations in the U.S. and Canada serving highly technical industries including chemical, refining, power generation, semiconductor, pharmaceutical and data centers The acquisition will expand Fergusons specialty industrial flow control platform, adding technical depth, attractive end markets and products with significant recurring MRO-driven revenue.

FloWorks generated 2025 revenues of approximately $1 billion. Based in Houston, the company holds a 65+ year legacy as a leading flow control distributor with more than 60 locations in the United States and Canada serving highly technical industries including chemicals, refining, power generation, semiconductors, pharmaceuticals and datacenters. The acquisition will expand Ferguson’s specialty industrial flow control platform, adding technical depth, attractive end market and product exposure and significant recurring MRO-driven revenue.

“FloWorks strengthens our position in high-growth, industrial end markets, while adding meaningful capabilities and geographic coverage which we can leverage across our nonresidential customer groups,” said Kevin Murphy, CEO of Ferguson. “Their expert teams, technical capabilities and strong OEM brands will further enhance our ability to provide essential water solutions for the specialized professional. We welcome their associates to Ferguson and look forward to our next chapter of growth together.”

“Joining Ferguson ensures our 65+ year legacy continues with a partner that shares our commitment to customer service and operational excellence,” said Scott Jackson, CEO of FloWorks. “Ferguson’s scaled platform and capabilities will empower our associates to better serve our customers. This marks an exciting next chapter in FloWorks’ history and provides a great home for our associates.”

The transaction is expected to close in the third quarter of 2026, subject to customary conditions and regulatory approvals.