Wolseley plc announced today five acquisitions for an aggregate consideration of £33m. The group expect the acquisitions to add £45m in total revenue in the first full year.
Only one of the five is a UK company – PFC Corofil Firestops Ltd. Wolseley acquired the company and its subsidiaries (‘PFC’) from Geoff Ashling On February 29. The company is a distributor of a wide range of specialist passive fire protection products operating from a single location in Surrey. In the year ended 31 March 2007, PFC had revenue of £1.9m and gross assets of £0.3m.
The other acquisitions were: C.B. Group, Inc. trading as JC Plumbing Supply, certain assets of Precision Doors & Hardware, LLC and Mastercraft Cabinets, Inc in the US and Gama Myjava s.r.o in Slovakia and the Czech Republic.
Wolseley Chief Executive Chip Hornsby said, “I am pleased to announce these acquisitions. They are excellent businesses that broaden our product and geographic coverage and support our strategy of growing the business through acquisition and organic growth.”
The latest purchases take the total to 15 bolt-on acquisitions in Europe and North America since the beginning of the company’s financial year on August 1 2007.