Wolseley UK announces acquisition of Neville Lumb, DHS and Bassetts along with exclusive negotiations for the acquisition of Ideal Bathrooms
Wolseley UK is delighted to announce it has entered into binding agreements with Saint-Gobain for the acquisition of Neville Lumb, DHS and Bassetts. Separately, Wolseley UK has entered into exclusive negotiations for the acquisition of Ideal Bathrooms.
It is expected that the acquisition of the plumbing and heating focussed businesses will be completed in the first half of 2022.
It will be a seamless transition; the outlets will operate as normal and there will be no change for customers.
Together the four brands represent around 485 employees and in 2020 generated a turnover of approximately EURO130M.
Keith Dorling, Managing Director for Wolseley Plumbing and Heating commented: “Business acquisition is a key aspect of our ambitious growth strategy. The deal with Saint-Gobain to acquire Neville Lumb, DHS and Bassetts will strengthen our ability to provide the local, personal service and expertise for which we’re renowned.
“What’s more, we are proud to welcome the three businesses and their employees to the Wolseley family, with Ideal to follow close behind. We believe our employees make our business what it is, and our new recruits are joining an exciting forward-thinking business with a gold standard workplace culture, an award-winning Talent strategy, and industry-leading employee incentives and benefits. The Plumbing & Heating Management Team is considered one of the strongest in the sector and I know we will share knowledge and best practice between us to ensure we get the optimum result.
“Through our expansion into new and existing markets and our commitment to providing opportunities for career growth, it is our ambition to combine the best components of our new acquisitions to further reinforce our position as a market leader in subject matter expertise, customer service, product range and reliability. Ultimately, our goal is to provide a sustainable service for our customers and our customers’ customers – and this is significant step towards that.”
15th December 2021