Acquisition Resources

Wolseley plc, the world’s largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials, has announced five bolt-on acquisitions for an aggregate consideration of £87m. 

In a full year, these bolt-on acquisitions are expected to add approximately £110m to total revenue. Goodwill and intangible assets related to these acquisitions is estimated to be around £52m.

These include companies operating in North America and Europe. UK company T&R Electrical Wholesalers Ltd was acquired on 24th August, an electrical wholesaler serving public and electrical contractors in the residential, commercial and industrial sectors, operating from four sites in West London. T&R will give Wolseley UK’s existing electrical distribution brand, Electric Center, additional coverage in an area where it is currently under represented.

Chip Hornsby, Group Chief Executive of Wolseley said:“I am delighted that we have finally been able to enter the New York industrial and commercial market and complete four further acquisitions towards our target for bolt-ons of £450m for the year to 31 July 2008. They are excellent businesses that broaden our product and geographic coverage and support our strategy of growing the business through acquisition and organic growth.”