Plumbing and heating products distributor sold in £308m deal
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Plumbing and heating products firm Wolseley has been sold by its owner to a global private equity firm in a deal worth £308m.
Clayton, Dubilier & Rice has snapped up Wolseley, which has its support centre in Rippon, in a deal that is expected to be completed by the end of January.
Kevin Murphy, chief executive of Ferguson, said: “Wolseley is a leading heating and plumbing distribution business in the UK and we are confident the business will benefit from working with its new owners, Clayton, Dubilier & Rice who will develop the business further by focusing on continued opportunities in the industry. We’d like to thank all our associates for their tireless hard work while they have been part of the Group, especially recently through the COVID-19 pandemic. We wish them all the very best for the future.
“The transaction further simplifies the Group and allows us to focus entirely on investing in and developing our business across North America where we have the greatest opportunities for profitable growth.”