Plumbers merchant Wolseley UK has bought Irish heating, plumbing, tiling and bathroom businesses The Heat Merchants, and Hevac Group, and their subsidiaries.
The Heat Merchants business comes with Tubs & Tiles, the largest tile and bathroom retailer in Ireland, with 12 showrooms nationwide plus established ecommerce an commercial channels.
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.
Hevac Ltd. specialises in heating systems to the commercial, industrial, and residential sectors. Its capabilities include large industrial steam systems, underfloor heating, district heating, and renewable energy solutions. Hevac engages with customers from the project concept stage to project delivery.
The transaction also includes the acquisition of Tube Company of Ireland Ltd, Polytherm Heating Systems Ltd, Origen Energy Limited and Aluminox Ltd, which are all part of the Hevac Group.
Simon Oakland, CEO Wolseley UK, said: “This is a very exciting announcement for Wolseley as it acquires Heat Merchants, Tubs & Tiles, and Hevac, all well-known brands in Ireland providing a local and personal service, which Wolseley will further build on. Wolseley, itself, is undergoing an ambitious growth strategy through business acquisition and this latest announcement is a key part of this.”
Heat Merchants and Tubs & Tiles have been owned by Wolseley in the past and were sold off in 2010.
The acquisition is subject to clearance from the Irish Competition and Consumer Protection Commission.