Clayton, Dubilier & Rice has completed the previously announced acquisition of Wolseley UK, a leading specialist distributor of plumbing, heating, climate control, pipe and infrastructure & utility products in the United Kingdom, from Ferguson plc.
The carve-out transaction, valued at GBP308 million, establishes Wolseley as an independent company, to be wholly-owned by management and CD&R funds.
The Wolseley brand dates back to the 19th century and is one of the most respected and well-known in the UK. In FY2020, Wolseley generated approximately GBP1.5 billion of revenue. In addition to plumbing and heating products and the associated pipes, valves, and fittings, the company offers air conditioning and refrigeration products to commercial customers as well as products to the civil infrastructure and utilities markets.
Bruno Deschamps, Operating Advisor to CD&R funds and former COO of Ecolab, assumed the role of Chairman of the Wolseley board upon the close. Wolseley continues to be led by Chief Executive Officer Simon Oakland. The transaction was originally announced here on 4 January, 2021.
Source: Private Equity Wire
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