Builders' merchant Wolseley UK has announced the acquisition of Irish heating, plumbing, tiling and bathroom businesses Heat Merchants, Tubs & Tiles, and Hevac Ltd.
Credit: Wolsely
Credit: Wolsely
The three businesses combined have revenues of circa €150 million and employ over 400 people in 47 locations in the Republic of Ireland. All jobs will be retained, and it is also planned that the individual brands will be retained.
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. The commercial division manages a variety of light commercial and multi-residential projects and has a well-established position in the market with a 42-year track record.
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Tubs & Tiles, is the largest tile and bathroom retailer in Ireland, with 12 showrooms nationwide plus an established e-commerce channel. In addition to retail sales, it is a key provider to hotels, leisure, retail, and multi-residential developments in the commercial sector. Hevac Ltd. specialises in heating systems for the commercial, industrial, and residential sectors.
The transaction also includes the acquisition of other successful brands including Tube Company of Ireland Limited; Polytherm Heating Systems Limited; Origen Energy Limited and Aluminox Limited.
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According to Simon Oakland, CEO Wolseley UK, Wolseley is undergoing an ambitious growth strategy through business acquisition and this latest announcement is a key part of this.
The company is a specialist provider of plumbing, heating, cooling, and utility products to trade customers. It has around 560 branches nationally, three centres of excellence in the utilities divisions, support centres in Warwick and Ripon, and three distribution centres.
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