Building materials supplier expects acquisitions to add £148m to revenue
Building materials supplier Wolseley announced today it had acquired five more companies for £111m. In a full year, these acquisitions are expected to add about £148m in additional revenue.
In the USA it acquired Lawrence Plumbing Supply, Castle Supply Company and Northern Water Works Supply.
In Europe Wolsely bought Murdock ECD and Murdock Haworth, while its subsidiary DT Group bought Finnish company Helatukku Finland Oy.
Since the beginning of the financial year on 1 August, a total of 10 bolt on acquisitions in Europe and North America have been completed for about £160m. These 10 acquisitions are expected to add about £238m to group revenue in a full year.
Goodwill and intangible assets related to these acquisitions are estimated to be about £109m.
In addition, on 25 September, Wolseley completed the acquisition of DT Group (formerly known as Danske Traelast) for £1.3m.
Chip Hornsby, group chief executive of Wolseley, said: “We are delighted to announce these four bolt on acquisitions which complement our existing business in Europe and North America. Making bolt on acquisitions is an important part of delivering double digit growth and the pipeline for the
year remains strong. The acquisitions announced today include our first bolt on in Finland, which following the recent purchase of DT Group, will help
strengthen our platform for growth in the region.”