Wolseley UK is being sold by its parent Ferguson plc to private investment firm Clayton, Dubilier & Rice. The disposal is due to be complete by the end of January 2021 and is worth £308 million.
Ferguson chief executive Kevin Murphy said: “Wolseley is a leading heating and plumbing distribution business in the UK and we are confident the business will benefit from working with its new owners, Clayton, Dubilier & Rice, who will develop the business further by focusing on continued opportunities in the industry.
“We’d like to thank all our associates for their tireless hard work while they have been part of the Group, especially recently through the COVID-19 pandemic. We wish them all the very best for the future.”
Wolseley UK trading profits were £5.8 million to the year ended 31 July 2020 and revenue was £1,373 million.