H.I.G. Capital, LLC, a leading global alternative investment firm with over €36 billion of equity capital under management, has announced that one of its affiliates has signed a definitive agreement to acquire Travis Perkins Plc’s Plumbing & Heating business (the “Company” or “P&H”), one of the UK’s leading plumbing, heating, and bathroom related products specialist merchants. The divestiture is valued at approximately £325 million, and the transaction is expected to be completed within the next three months, following regulatory approval.
Headquartered in Northamptonshire, P&H operates under its primary trading brands City Plumbing Supplies (CPS) and Plumbing Trade Solutions (PTS), with over 350 branches across the UK and Ireland, alongside several specialist online outlets including The Underfloor Heating Store, Direct Heating Spares, PlumbNation, and National Shower Spares. The Company, led by Dave Evans and supported by an experienced senior leadership team, serves trade customers and consumers across the residential and commercial construction categories.
H.I.G.’s investment will support P&H in its transition to an independent company and accelerate its customer-focused expansion in the UK and Ireland.
Dave Evans, CEO of P&H said: “The sale to H.I.G. is great news for P&H and its stakeholders. We are recognised as a market leader across many of our businesses and the categories they operate in and I am very excited to work with the team at H.I.G. to capitalise on the enormous potential for growth we have within the UK and Ireland. We are well positioned to push forward with our plans for growth by developing more customer-focused propositions delivered by over 3,000 dedicated team members. I look forward to building an even stronger business in the coming years.”
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