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Wolseley build portfolio

Wolseley have announced they have spent £9m on two new bolt-on acquisitions in North America and Europe.

Wolseley build portfolio

On July 30 the company acquired the assets of Fire Fab in the US, a manufacturer and distributor of fire safety and suppression systems. And, on the same day the company purchased Swedish builders merchants Säve Trä Försäljnings, which operates two branches.

The £9m price tag takes the company’s total acquisition spend for the year ending July 31 2007, to £383m covering a total of 43 acquisitions in the period.

In addition, on July 26, Wolseley France signed an agreement to acquire roof truss manufacturer Sofiparts. The deal is dependent on obtaining French competition clearance, and, if this is given, the deal is expected to complete in November this year.

Speaking about the latest acquisitions, group ceo Chip Hornsby said: “These acquisitions build on our strategy of profitable growth through acquisitions and organic means and provide increased diversity to the group’s product range.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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