Plumbing wholesaler sold in £46m deal
Travis Perkins has sold Primaflow F&P, a Birmingham wholesale heating and plumbing business, to Newbury Investments (UK) in a deal worth £46m.
Northants-based Travis Perkins says the move is part of a strategy to simply its business and “focus on its advantaged trade businesses”.
Primaflow F&P is a national wholesale distributor of branded plumbing and heating systems and has been part of the Travis Perkins Group since 2010. For the year ended 31 December 2018, profits at the firm were £5m.
Nick Roberts, chief executive of Travis Perkins, said: “The divestment of our wholesale plumbing & heating business is a further step in reducing the Group’s overall complexity and enabling greater focus and more disciplined capital allocation to our advantaged trade-focused businesses.”
