Ferguson, Stock Building Supply Make Acquisitions

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March 10, 2008

Ferguson, Stock Building Supply Make Acquisitions

Wolseley plc, global distributor of plumbing and heating products and a supplier of building materials, announced five bolt-on acquisitions for £33 million (US$66.5 million at current exchange rates).

In a full year, these bolt-on acquisitions are expected to add £45 million (US$90.7 million) to total revenue.

Since Aug. 1, 2007, the start of Wolseley's financial year, a total of 15 bolt-on acquisitions in Europe and North America have been completed for £203 million. These 15 acquisitions are expected to add £263 million (US$530 million) to Group revenue in a full year.

North America

Ferguson has acquired C.B. Group, Inc. trading as JC Plumbing Supply. JC Plumbing is a distributor operating from two facilities in San Francisco, CA. The acquisition of JC Plumbing provides entry into the plumbing fixtures market in that city. In 2007, JC Plumbing had revenue of $4.4 million.

Ferguson has also acquired Mastercraft Cabinets, Inc. Mastercraft is a cabinet distributor operating from a single facility in Naples, FL. In 2006, Mastercraft had revenue of $5.1 million.

Stock Building Supply has acquired Precision Doors & Hardware, LLC. Precision Doors specializes in sales, installation, service and repair of commercial and industrial doors, frames, door hardware, washroom accessories and control systems operating from five locations in the Washington D.C. metro area. In 2006, Precision Doors had revenue of $43.3 million.

Europe

Wolseley Eastern Europe has agreed to acquire Gama Myjava s.r.o. Gama is a plumbing, heating and sanitary ware distributor operating from eight branches in Slovakia and five branches in the Czech Republic. In 2006, Gama had revenue of SKK741.6million (£16 million).

Wolseley UK has acquired PFC Corofil Firestops Ltd and its subsidiaries. PFC is a distributor of specialist passive fire protection products operating from a single location in Surrey. In the year ended March 31, 2007, PFC had revenue of £1.9 million.

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