The 2020 Mid-Year Economic Update_long

Ferguson Buys United Automatic Heating Supply

>UK-based Wolseley plc, distributor of plumbing and heating products to professional contractors and a supplier of building materials, announced three acquisitions for an aggregate consideration of 22 million. In a full year, these acquisitions are expected to add about 30 million (about $57 million) in additional revenue.

>Since the beginning of the financial year on 1 August 2006, a total of six businesses in Europe and North America have been acquired for an aggregate consideration of about 49 million ($93 million). These six acquisitions are expected to add approximately 91 million to Group revenue in a full year. Goodwill and intangible assets related to these acquisitions is estimated to be around 29 million. These totals do not include the acquisition of DT Group (formerly known as Danske Traelast) which was announced on 24 July 2006 and is expected to complete in the next eight days.

North America
Ferguson acquired United Automatic Heating Supply Ltd  from James Haskell. United Automatic is an Ohio-based distributor of heating ventilation and air conditioning equipment and supplies. In the year ended 31 December 2005, United Automatic had revenue of $29.4 million and gross assets of $5.4 million at that date.

Brossette acquired Sigmatec SAS from Mr Gournay. Sigmatec is an electrical distributor based in Northern France. In the year ended 31 March 2006, Sigmatec had revenue of Euro5.6 million and gross assets of Euro0.4 million at that date.

>Wolseley UK acquired Morris Insulation Ltd, Acoustic and Thermal Insulation Ltd, Customised Insulation Manufacturers Ltd and Construction Insulation Distributors Ltd from Rhodes Securities Limited. The Insulation Companies, based in Dublin, are distributors of insulation materials in the Republic of Ireland. In the year ended 31 August 2005, the Insulation Companies had revenue of Euro15.6 million and gross assets of Euro12.7 million at that date.

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