Wolseley plc, UK-based distributor of plumbing and heating products to professional contractors and a supplier of building materials, announced two bolt-on acquisitions for an aggregate consideration of 9 million pounds Sterling (US$18.72M). In a full year, these bolt on acquisitions are expected to add approximately 14 million pounds (US$29M) to total revenue.
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Since the beginning of the financial year on Aug. 1, 2006, a total of 43 bolt-on acquisitions in Europe and North America have been completed. These 43 acquisitions are expected to add 671 million pounds (US$1.4B) to Group revenue in a full year.
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North America
On July 30, 2007, Ferguson acquired Fire Fab Inc. Fire Fab is a distributor and fabricator of fire safety and suppression systems in Minneapolis, MN. In the year ended Dec. 31, 2006, Fire Fab had revenue of $12.4 million. This acquisition expands Ferguson’s presence in the growing fire protection market.
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Europe
On July 30, 2007, DT Group acquired Save Tra Forsaljnings AB. Save, a builders merchant, operates from two branches in Save and Lerum, Sweden. In the year ended Dec. 31, 2006, Save had revenue of SEK111.0 million (US$17M). This is the eighth bolt-on acquisition since DT Group joined Wolseley Group and is consistent with the plan to expand DT’s heavy-side building materials footprint in the Nordic region.
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In addition to the above, on July 26, 2007, Wolseley France signed an agreement conditional upon obtaining French competition clearance, to acquire Sofiparts SAS and its subsidiary companies from SAS Savare. Sofiparts designs, engineers and assembles roof trusses operating from nineteen production sites across France.
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In the year ended Dec. 31, 2006, Sofiparts had revenue of 121.4 million euros (US$170M). Completion of this acquisition is expected in November 2007.
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Wolseley operates in 28 countries.