Wolseley is set to acquire Kooltech following CMA ruling

Kooltech is set to complete its acquisition by Wolseley after receiving an update from the Competition and Markets Authority (CMA).

Kooltech is a specialist in distributing and engineering air conditioning and ventilation products and it has seven branches, its head office is in Glasgow and it is set to open a new site in Cambridge.

Jonathan Brown, commercial director from Kooltech, said: “Following our announcement last week, and subsequent positive engagement with the CMA, we are pleased to share that the CMA has agreed in principle that the disposal of Kooltech’s Aberdeen branch will allay its antitrust concerns and allow Wolseley to complete the acquisition of Kooltech.

“We hoped not to lose anyone from the Kooltech family because of the sale process and we will be supporting the Aberdeen staff throughout as a priority.

“We will continue to work with the CMA, Wolseley and our advisors, to agree the detail to enable us to effect the Aberdeen disposal as soon as possible.”