Thu, 09 Dec 2021 | BUSINESS SALE
Wolseley UK has acquired power cable specialist Jointing Technologies in an undisclosed deal. Wolseley says the acquisition will enable it to tap into the growth potential present in the electricity market.
The target business specialises in power cable distribution and accessories for the low-medium and high-voltage markets, as well as electrical trace heating systems. It operates from five sites in the UK and Ireland. Post acquisition, Wolseley has said that all of Jointing Technologies’ brands, existing sites and personnel will be retained.
The acquisition was completed via the Wolseley Infrastructure division, a distributor to the civils and utilities sectors through the Fusions Utilities and Burdens brands. Wolseley expects the acquisition to deliver strong synergies and build on the division’s UK-wide coverage and cable-cutting operation, among other benefits.
Commenting on the acquisition, Wolseley Infrastructure Managing Director John Hancock said: “Wolseley Infrastructure has a strong track record of acquisition and we are delighted to welcome Jointing Technologies to Wolseley.”
“The business has a strong reputation for customer service and innovation delivered by a highly skilled team and we believe that together we can offer our combined customer base a really compelling product and service proposition.”
Jointing Technologies Chairman Adam Lloyd added: “Today’s news is an exciting development for the company as we join forces with Wolseley Infrastructure. The announcement ensures the continuity of our brand, the security of jobs and long-term consistency for our customers. I am most looking forward to seeing this shared future unleash the potential of the Jointing Technologies family within the Wolseley group.”
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