Wolseley UK sold
Author: ross sturley cimcig
Builders' merchant firm Wolseley UK is to be bought by private equity firm Clayton, Dubilier & Rice.
The firm has agreed to pay £308m for the heating and plumbing distribution business.
Current owner Ferguson intends to focus on its North American operations.
Ferguson was a US plumbing supplier acquired by Britain’s Wolseley in 1982. Over time the US operations became the major part of the business, to the extent that in 2017 Wolseley plc changed its name to Ferguson plc.
The sale of Wolseley UK, which today contributes less than 10% to group revenues, represents the culmination of the trans-Atlantic shift of the business.
The transaction is expected to complete at the end of January 2021