Materials suppliers continues its acquisition trail, spending £61m on six companies in Europe and the USA
Materials supplier Wolseley announced today it has bought six more companies for £61m. In a full year, these bolt on acquisitions are expected to add about £102m in additional revenue.
Since the beginning of the financial year on 1 August, a total of 16 bolt on acquisitions in Europe and North America have been completed costing £221m.
These 16 acquisitions are expected to add about £340m to group revenue in a full year. Goodwill and intangible assets related to these acquisitions is estimated to be about £42m.
In addition, on 25 September, Wolseley plc completed the acquisition of DT Group (formerly known as Danske Traelast) for an estimated consideration of £1.3m.
In the USA, it acquired Gulf Refrigeration Supply Inc, Kandall Fabricating & Supply Corporation KF Industries, Lee Window & Door Company, Perfection Truss Company.
In Europe builders’ merchant Woodcote - stavebni materialy, which operates in the Czech Republic, Slovak Republic, Hungary, Poland, Romania and Croatia, was acquired as was Hjalmars Tra AB in Sweden.
Chip Hornsby, group chief executive of Wolseley, said: “We are pleased to announce these six bolt on acquisitions which further strengthen our existing business in Europe and North America. In particular, Woodcote extends our reach in Hungary and the Czech Republic, and provides us with an entry point into the new European growth markets of the Slovak Republic, Poland, Romania and Croatia.”