Travis Perkins’ management team has confirmed the sale of its wholesale plumbing and heating business Primaflow F&P to distribution group Newbury Investments for £46m.
Part of plans to simplify the group, the sale process is expected to complete at the end of this month and proceeds used to reduce group net debt.
Primaflow has been part of the Travis Perkins Group since 2010. The group added that the sale allowed its remaining plumbing and heating businesses “to focus on delivering market-leading service to our direct trade customers”.
Nick Roberts, Travis Perkins chief executive, added: “The divestment of our wholesale plumbing and heating business is a further step in reducing the group’s overall complexity and enabling greater focus and more disciplined capital allocation to our advantaged trade-focused businesses.“