Wolseley UK has announced the acquisition of leading heating, plumbing, tiling and bathroom businesses Heat Merchants, Tubs & Tiles, and Hevac.
The acquisition is subject to clearance from the Irish Competition and Consumer Protection Commission, a statement said.
The three businesses combined have revenues of circa €150 million and employ over 400 people in 47 locations in the Republic of Ireland.
Heat Merchants, which focuses on the heating and plumbing sector, has 31 branches all across Ireland together with a central warehouse and distribution hub in Athlone.
Tubs & Tiles was described as the largest tile and bathroom retailer in Ireland, with 12 showrooms nationwide plus an established ecommerce channel.
Hevac specialises in heating systems to the commercial, industrial, and residential sectors, a statement added.
The transaction also included the acquisition of other brands including Tube Company of Ireland Limited, Polytherm Heating Systems Limited, Origen Energy Limited and Aluminox Limited, Wolseley added.
Simon Oakland, CEO Wolseley UK, said: “This is a very exciting announcement for Wolseley as it acquires Heat Merchants, Tubs & Tiles, and Hevac, all well-known brands in Ireland providing a local and personal service, which Wolseley will further build on. Wolseley, itself, is undergoing an ambitious growth strategy through business acquisition and this latest announcement is a key part of this.”
Shane Colleran, director, Heat Merchants Group, said: “This transaction and change to Wolseley ownership couldn’t have been better timed. It will allow us to build on the momentum we have generated over recent years and enable us to invest in the significant market opportunities in Ireland. There’s been a considerable increase in activity to address housing under-supply coupled with the continued development of commercial and industrial infrastructure on which this transaction will enable us to capitalise.”