BSS, itself a distributor of heating, plumbing and pipeline equipment to the construction markets, is the acquiring firm and has agreed to pay £14 million in cash for ‘Warrens’ with up to £750,000 more following depending on certain provisions.

3i initially invested £1.7 million for a minority stake in the business in February 1998, as part of a management buy-in. ‘Warrens has been a good investment for us and has performed strongly, quadrupling sales and expanding from one to four branches [in this time],’ states 3i director Will Clark.

With outlets in Oldham, Birmingham, Leeds and London and having generated a £1.5 million operating profit in 2004, BSS hopes Warrens will ‘enhance the range and depth of products supplied,’ by its own industrial division.