HP Products
| Founded | 1964 in Indianapolis, IN |
|---|---|
| Founder | Donald Ames Shuel |
| Type | Wholly owned subsidiary |
| Headquarters | Indianapolis, IN |
| Products | Health and Hygiene, Packaging, Safety, Laundry and Dietary, Lighting, Equipment, Food Service, Coffee and Beverage, Textiles |
| Website | http://www.hpproducts.com/ |
HP Products, a Ferguson enterprise, headquartered in Indianapolis, Indiana, is a distributor of health and hygiene, packaging, safety, laundry and dietary, lighting, equipment, food service, coffee and beverage, and textile products.[1]
History
[edit]Beginnings
[edit]In 1964, Donald Ames Shuel bought a struggling business in downtown Indianapolis, H.P. Chemical, and changed the name to HP Chemical Products.[2] The business started with one office and a focus on janitorial products, and goal to provide the best products, services and support.[3]
Growth
[edit]As the company began to grow, it became HP Products, and started to diversify its product lines and acquire organizations to meet the changing needs of its customers.[4] In 2000, Shuel's daughter, Bridget Shuel-Walker, assumed the role of President.[1] In 2009, HP Products was valued at $150 million.[5]
Acquisition
[edit]With the help of Deloitte Corporate Finance LLC, HP Products began to explore various strategic alternatives to aid in the continued growth of the company.[6] On December 9, 2014 the company announced it was acquired by Ferguson Enterprises, the largest wholesale plumbing distributor in the U.S., to become a wholly owned subsidiary known as HP Products, a Ferguson enterprise.[2] Ferguson Enterprises has been a part of Wolseley plc since 1982.[7] Wolseley plc is listed on the FTSE 100 Index, a list of 100 company's part of the London Stock Exchange.
HP Products today
[edit]HP Products is located in six states in the Midwest with over 450 employees.[4] The company has grown to include 5 distribution centers, 3 cross-docks and 500,000-square-feet of warehouse space.[3] In 2013, the company reported $180 million in revenue.[2] HP Products remains one of the largest distributors of its kind in the United States.[1] With its expanded product offering and increased distribution footprint, HP Products is now a single-source supplier for hundreds of customers.[3]
See also
[edit]References
[edit]- ^ a b c Maurer, Katie. "Shuel-Walker builds HP Products into distribution giant", Indianapolis Business Journal, 13 April 2009. Retrieved on 14 November 2014.
- ^ a b c "One of city's largest woman-owned businesses acquired", Indianapolis Business Journal, 10 December 2014. Retrieved on 10 December 2014.
- ^ a b c "Ferguson Enterprises acquires HP Products Corporation", The Wholesaler, 10 December 2014. Retrieved on 10 December 2014.
- ^ a b Shuel-Walker, Bridget. "Family business opened door; client work lured her through", IndyStar, 26 April 2009. Retrieved on 14 November 2014.
- ^ Scott, Mark. "Detail-oriented", "Smart Business Network", 27 August 2009. Retrieved on 14 November 2014.
- ^ "Deloitte Corporate Finance LLC Advises HP Products Corporation in Sale to Ferguson Enterprises, Inc." Archived 2016-03-05 at the Wayback Machine, "The New York Times", 17 December 2014. Retrieved on 10 February 1015.
- ^ "About Us", "Ferguson Enterprises, Retrieved on 10 February 2015.