Deloitte Corporate Finance LLC Advises HP Products Corporation in Sale to Ferguson Enterprises, Inc.

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Dec 17, 2014, 09:05 ET

CHARLOTTE, N.C., Dec. 17, 2014 /PRNewswire/ -- Deloitte Corporate Finance LLC ("DCF") acted as exclusive financial advisor to Indianapolis-based HP Products Corporation ("HP Products"), a leading distributor of maintenance, repair, and operations supplies and equipment in the Midwestern United States, in the sale to Ferguson Enterprises, Inc. ("Ferguson"), an industrial distribution company. The acquisition closed on June 9, 2014.

DCF advised HP Products on the exploration of various strategic alternatives, including the consideration of a strategic sale and private equity investment.

"DCF was able to generate significant interest on behalf of HP Products by appropriately highlighting the Company's broad service offering, deep management team, and wide footprint throughout the Midwest. The addition of Ferguson's complementary product lines and geographic reach will further enhance HP Products' growth," said Ames Shuel, Founder and Chairman of HP Products.

"HP Products is a leader in the distribution industry that has provided janitorial and sanitation products in the Midwest for nearly 50 years. Mr. Shuel built HP Products' business platform by combining a diverse product offering with a focus on customer service. We are pleased to have assisted the Shuel family in achieving their objectives," said Eric Andreozzi, Managing Director for DCF.

About HP Products Corporation

HP Products Corporation, based in Indianapolis, Indiana, is a leading distributor of maintenance, repair, and operations supplies and equipment in the Midwestern United States. The Company distributes to more than 10,000 active customers and offers a comprehensive product selection consisting of more than 17,700 stock keeping units representing several different product categories, including janitorial and sanitation, packaging, safety, equipment, laundry and dietary, food and beverage, textiles, and others. The Company achieves numerous competitive advantages through its robust supplier network, best-in-class operations, and expert sales force. For more information, visit www.hpproducts.com.

About Ferguson Enterprises, Inc.

Ferguson is the largest wholesale distributor of residential and commercial plumbing supplies and pipe, valves and fittings in the U.S. The company is also a major distributor of HVAC/R equipment, waterworks and industrial products and services. Founded in 1953 and headquartered in Newport News, Va., Ferguson has sales of $10.6 billion and approximately 19,000 associates in almost 1,350 locations. Ferguson and its subsidiaries serve customers in all 50 states, Puerto Rico, Mexico and the Caribbean. Ferguson is part of Wolseley plc, which is listed on the London Stock Exchange (LSE: WOS) and on the FTSE 100 index of listed companies. For more information, visit www.ferguson.com.

About Deloitte Corporate Finance LLC

Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.

Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.

Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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