Wolseley sells Irish business

Reading-based distributor of heating and plumbing products Wolseley has sold its Irish subsidiary, Wolseley Ireland Holdings (WIHL), to a group of private investors for up to €26.5 million (£23.8 million). 


Reading-based distributor of heating and plumbing products Wolseley has sold its Irish subsidiary, Wolseley Ireland Holdings (WIHL), to a group of private investors for up to €26.5 million (£23.8 million). 

Reading-based distributor of heating and plumbing products Wolseley has sold its Irish subsidiary, Wolseley Ireland Holdings (WIHL), to a group of private investors for up to €26.5 million (£23.8 million).

WIHL comprises the brands Heat Merchants, Brooks, Tubs and Tiles and Encon Ireland, with a network of 67 branches and 650 employees.

Ian Meakins, chief executive of Wolseley, said that the deal was a good outcome for shareholders and would enable the company to focus on its core UK business.

In the year ending July 2009, WIHL generated sales of €237 million and operating losses of €34 million.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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