Clayton, Dubilier & Rice Acquisition Creates Independent Wolseley UK

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Feb 01, 2021, 07:13 ET

LONDON and NEW YORK, Feb. 1, 2021 /PRNewswire/ -- Clayton, Dubilier & Rice today completed the previously announced acquisition of Wolseley UK, a leading specialist distributor of plumbing, heating, climate control, pipe and infrastructure & utility products in the United Kingdom, from Ferguson plc. The carve-out transaction, valued at £308 million, establishes Wolseley as an independent company, to be wholly-owned by management and CD&R funds.

The Wolseley brand dates back to the 19th century and is one of the most respected and well-known in the UK. In FY2020, Wolseley generated approximately £1.5 billion of revenue. In addition to plumbing and heating products and the associated pipes, valves, and fittings, the company offers air conditioning and refrigeration products to commercial customers as well as products to the civil infrastructure and utilities markets.

Bruno Deschamps, Operating Advisor to CD&R funds and former COO of Ecolab, assumed the role of Chairman of the Wolseley board upon the close. Wolseley continues to be led by Chief Executive Officer Simon Oakland. The transaction was originally announced here on January 4, 2021.

About Wolseley

Founded in 1887, Wolseley operates through 542 branches and three distribution centres and employs approximately 5,000 FTEs. For more information, visit www.wolseley.co.uk.

About Clayton, Dubilier & Rice

Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $30 billion in 96 businesses representing a broad range of industries with an aggregate transaction value of more than $150 billion. The Firm has offices in New York and London. During its more than 20 years investing in Europe, CD&R has acquired 20 businesses representing more than $6 billion of capital. For more information, please visit www.cdr-inc.com.

SOURCE Clayton, Dubilier & Rice