New acquisitions will add £116m to material suppliers' group revenue
Materials supplier Wolseley has kicked off the year by announcing new acquisitions worth £66m. The new purchases are expected to add £116m to company revenue.
Since the start of its financial year on 1 August 2006 it has spent around £328m on 29 companies which are expected to add approximately £560m to the group’s revenue.
In December Wolseley bought American companies Cal-Steam Supply, Guntersville Fabrication, Sprinkler Corporation and Guntersville Pipe and Supply.
Cal-Steam is a distributor of plumbing products with 10 locations primarily in San Francisco's Bay area. For the year ended 31 December 2005, the company reported revenue of £76.6m and gross assets of £11.3m.
Guntersville distributes and builds fire protection systems in the south east US. For the year ending 31 October 2006 it posted revenue of £1.2m and assets of £3.4m.
Wolseley also acquired two companies in the Europe. R J Hosking Building Supplies based in Porthleven, Cornwall sells building materials with an emphasis on heavy materials such as bricks blocks, aggregates and timber. In the year ended 30 April 2006, it had revenue of £3.9m.
In Holland the company acquired Kopex. The distributor of sanitary products reported revenue of £19.6m and assets of £7.1m in the year ended 31 December 2005.