Trian Partners Activist Presentation Deck
We Believe a US-Listed Ferguson Would Be an Attractive Stock to
Shareholders of Its US-Listed Peers
THE
HOME
DEPOT
$412 billion (1)
POOLCORP
SiteOne LowE'S
LANDSCAPE SUPPLY
Stronger Together
Market Capitalization ($ in billions)
HD SUPPLY
FASTENAL GRAINGER
FOR THE ONES WHO GET IT DONE
watsco
COOLING THE AMERICAS
Beacon
MSC
BUILT
TO MAKE
YOU BETTER"
$19 billion
FERGUSONⓇ
Over 20x Ferguson's market capitalization is held at peers trading in the US at far
more expensive valuations than where Ferguson currently trades.
We believe Ferguson is an attractive complementary holding once
investors understand the Company
Source: FactSet.
Note: Circles are sized to scale.
(1) Represents the combined market cap of Home Depot, Lowe's, Pool Corp., Watsco, SiteOne, Beacon Roofing Supply, HD Supply, Fastenal, WW Grainger, MSC Industrial.
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