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Wolseley Appoints VP of Acquisitions for NA

July 26, 2007
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UK-based Wolseley plc has appointed Dan Parr to vice president of Acquisitions and Business Integration for Wolseley's North American Division, comprised of Ferguson, Stock Building Supply and Wolseley Canada.
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He will oversee acquisitions, and coordinate business integration and installation into Wolseley's systems and processes.

Parr began his career with Ferguson in 1988 as an Internal Auditor. He was promoted two years later to internal audit manager and transferred to Atlanta, Ga., in 1993 to become the integration manager for our Hub, Inc. acquisition. Parr returned to headquarters in 1995 as manager of Acquisitions and Installations, and was promoted to director in 2003 and to vice president in ...
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Stock Building Supply to Close 24 More Branches

July 17, 2007
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Wolseley plc has reported it will close 24 more Stock Building Supply branches, primarily in the Midwest. The closures include a 370 headcount reduction.
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The announcement comes after closing 22 branches and reducing headcount by about 4,500 in the past year, or a quarter of total employees.
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Wolseley reported sales at Stock were down nearly 15% in the first 11 months of the fiscal year; commodity price deflation caused revenues to decline a further 10%. Profit was down two-thirds.
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Lumber and structural panel prices, when combined, account for 45% of Stock's revenues; they have fallen by 21% and 27%, respectively.
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Stock's results were offset by strong organic growth in the U.S. plumbing and heating business, improved performance ...
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Wolseley Adds Five Bolt-On Acquisitions

July 5, 2007
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Wolseley plc, distributor of plumbing and heating products to contractors and a supplier of building materials, has made five bolt-on acquisitions. In a full year, these bolt-on acquisitions are expected to add about 28 million pounds to total revenue.


Since Aug. 1, 2006, the start of Wolseley's financial year, a total of 41 bolt-on acquisitions in Europe and North America have been completed. These 41 acquisitions are expected to add approximately 656 million pounds (US$1,312 million) to Group revenue in a full year.
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In addition, on Sept. 25, 2006, Wolseley plc completed the acquisition of DT Group, which brings aggregate acquisition spend for the year to 1,713 million pounds (US$3,426 million).
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North America
On May 14, ...
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Wolseley's First Half at a Glance

April 12, 2007
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UK-based Wolseley plc, distributor of plumbing/HVAC and building materials, recently reported its first-half results, which were brought down by Stock Building Supply in the U.S. and boosted by Ferguson. Wolseley saw 9 percent organic growth in North America, but profit fell 15%. European operations however saw double-digit organic growth, with profit up 33 percent.
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Here are a few graphics from a recent slideshow Wolseley recently posted online on its first-half results. The full presentation is here.

Download the pdf below to see the ...
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MDM Interview, Part 2: Wolseley's European Ambitions

CEO outlines distributor's challenges, strategy on the mainland
March 10, 2007
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In Part II of MDM's interview with Wolseley CEO Chip Hornsby, he addresses the differences between the global building materials and HVAC/plumbing distributor's North American and European markets, and Wolseley's aim to grow significantly on the European mainland -doubling its market share every five to seven years.


MDM: Can you talk a little about the European distribution landscape?


Chip Hornsby: The first thing I had to understand -we laugh about it all the time -was that in fifth-grade geography they didn't teach us that there's another continent out there called the UK. And then there's Europe. And those 22 miles are bigger than the ocean between us and them. I get asked all ...

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MDM Interview, Part I: Wolseley CEO on Distributor's Localized Strategy

February 25, 2007
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Wolseley CEO Chip Hornsby sat down with MDM recently to talk about the distributor's market moves, its localized strategy, the current housing market and the importance of leadership training. Hornsby also addressed the $25-billion global distributor's potential expansion into new but complementary sectors, which should slow while the company digests the acquisitions it has made in the past 18 months.


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Wolseley is the parent company of Stock Building Supply and HVAC/plumbing distributor Ferguson in the U.S. The second part of this interview, focused on Wolseley's European ambitions, will be in the March 10 issue of MDM.


MDM: What are the key issues for Wolseley in North America to develop markets in terms of services, product mix, ...
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Wolseley Feels Impact of Housing Slowdown

January 22, 2007
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UK-based Wolseley plc, global distributor of plumbing and heating products to professional contractors and supplier of building materials, reported it continues to be affected by the slowdown in housing and lower lumber prices in the U.S.


For the first five months to Dec. 31, 2006, Wolseley sales increased 15%, with 3% organic growth. Profit was slightly lower. In constant currency, revenue and trading profit would be about 5% higher. Results for the first six months will be reported in mid-March.


Wolseley says the housing slowdown effect was offset by good organic growth in the U.S. plumbing and heating business (Ferguson), an improved performance in continental Europe and contributions from acquisitions.


In the U.S., new housing starts have ...

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Wolseley plc Acquires Two More Distributors

November 22, 2005
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Plumbing and heating distributor Wolseley plc announced today it is acquiring two more industrial distributors for a total of $6.8 million in cash: one in the U.S. and the other in France.


 


On Nov. 14, Wolseley subsidiary Ferguson acquired HVAC distributor Mobile Supply Company Inc., Mobile, AL, from owners Mr. and Mrs. Raymond Stallings. Mobile has branches in Mobile and Pensacola, FL, and had sales of $12.3 million in 2004.


 


On Nov. 18, PBM signed an agreement to acquire MSCO from Jean-Marie Le Sellin, Annie Le Sellin, Michel Nadaud and Annie Nadaud. The deal is expected to be completed by Dec. 1, 2005. MSCO is a generalist builders' merchant based in the southwest of France with two branches. MSCO had sales of $4.37 million in ...
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Wolseley Optimistic of Progress in U.S.

November 18, 2005
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Wolseley plc's John Whybrow told shareholders at this week's annual meeting that he is optimistic of the progress the London-based company - which owns HVAC supplier Ferguson in the U.S. - has made this year.


 


There has been no significant change in the market conditions affecting the group's businesses since the preliminary results announcement," he said.


 


Whysbrow said the group's U.S. businesses have "made an excellent start to the year" and continue to achieve strong organic growth. He said the housing market remains strong, but that the number of housing starts may reduce as a result of higher interest rates.


 


"The robust U.S. economy should present further opportunities for organic growth," he said. "The improvement in ...
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Wolseley spends $23 million on 3 North American acquisitions

September 22, 2003
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Wolseley plc, the world's largest specialist trade distributor of plumbing, heating and building materials products, has acquired three more businesses in North America, for a total consideration, including debt acquired, of US$23 million. In a full year, these acquisitions will add a further US$61 million of sales. Goodwill related to these acquisitions is estimated to be around US$9.5 million.


North America Plumbing and Heating Distribution


The North American Plumbing and Heating Distribution business has acquired two businesses. In the USA, Ferguson has acquired Liberty Equipment & Supply ('Liberty'), a leading distributor of pipe, valves and fittings to the commercial, industrial and marine construction markets. Liberty serves much of the Pacific Northwest ...

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