COSTA MESA, Calif., Feb. 23, 2007 (PRIME NEWSWIRE) -- Ferguson Enterprises, a Wolseley company, has acquired Onda-Lay Pipe & Rental, Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Onda-Lay Pipe & Rental, Inc.
"The acquisition of Onda-Lay expands Ferguson Enterprises' presence in west Texas and provides the buyer with a significant presence in the rapidly expanding oil-field services market," said Michael Parham, vice president of RSM EquiCo Capital Markets.
Note: Transaction was completed on December 4, 2006. Announcement is for public record only.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London, and Mumbai, India.
About Onda-Lay Pipe & Rental, Inc.
Founded in 1982, Onda-Lay Pipe & Rental, Inc. is a leading full-service distributor of polyethylene and fiberglass pipe products and a provider of installation services. The company operates out of three locations -- distribution centers in Midland, Texas and Hobbs, N.M., and a field office in Damascus, Ark. Onda-Lay primarily sells to the oil and gas market but also has relationships with customers in the mining, industrial, municipal and farming markets. The company has over 120 employees.
About Ferguson Enterprises, Inc.
Ferguson Enterprises, Inc. operates as a wholesale distributor of plumbing supplies, pipes, valves, and fittings. It also distributes heating and cooling equipment. Ferguson operates in the United States, Washington D.C., Puerto Rico, and Mexico. The company was founded in 1953 and is based in Newport News, Va. Ferguson Enterprises, Inc. is a subsidiary of Wolseley plc., the world's number one distributor of heating and plumbing products to the professional market and a leading supplier of building materials.