Trade plumbing and heating supplier Wolseley is to be sold in a deal valued at £308 million to a global private equity firm, Clayton, Dubilier & Rice (CD&R). CD&R expects to complete the acquisition transaction by the end of this month.
CEO of Wolseley owner Ferguson, Kevin Murphy commented: 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, CD&R 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 ard work while they have been part of the Group, especially during the Covid-19 pandemic. We wish then all the best for the future.”
Ferguson will now focus entirely on developing its business in North America.
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