Lockwood International and Ferguson Enterprises Announce Settlement of Lawsuit

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Lockwood International is pleased to announce that today it resolved all of the claims brought against it and several of its employees by Ferguson Enterprises, Inc.

We’re excited to move past this distraction and devote all of our energy to attending to our customers’ needs and helping them grow their business. - Mike Lockwood, CEO

Lockwood International is pleased to announce that today it resolved all of the claims brought against it and several of its employees by Ferguson Enterprises, Inc. Ferguson sued the former employees in the United States District Court for the Western District of Kentucky, Ferguson Enterprises, Inc. v. Hollenkamp et al, case number 3:15-cv-00656 after the employees resigned from Ferguson and joined Lockwood in 2015. Ferguson is a part of a global conglomerate based in the United Kingdom with over £13 billion in annual revenue and over 39,000 employees. Lockwood is a family-owned business formed in Houston almost 40 years ago, with approximately 400 employees.

Lockwood decided to settle the dispute to put behind it the distraction, uncertainty, and expense of litigation, and so that Lockwood could focus on what it does best: continuing to provide exceptional service and value to its customers. Neither Lockwood nor any of its employees admitted any wrongdoing as part of the settlement.

Lockwood is excited to continue to work with its customers and vendors as it has for decades. Although the settlement includes certain limited restrictions on Lockwood’s ability to compete— such as that at Ferguson’s request, a few of Lockwood’s employees may not solicit business from a few of Lockwood’s customers for a short period of time—Lockwood expressly preserved the right to respond as always to requests to bid from any and all of customers and its ability to have other Lockwood personnel make sales calls on these customers.

Lockwood CEO Mike Lockwood said, “We’re excited to move past this distraction and devote all of our energy to attending to our customers’ needs and helping them grow their business. The individuals who decided to leave their prior employment and join us last year share our passion and commitment for this.”

Founded in 1977, Lockwood has become the most respected and reliable valve source across all industrial sectors. The Company is also now leading the way into the future by expanding into new markets covering pipe, fittings, flanges, and engineered products and offering new related services to our core markets to deliver even greater value to our customers. For additional information, visit http://www.lockwoodint.com.

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Lisa Robbel
Lockwood International
+1 (713) 212-2696
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