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| Wolseley announces bolt-on acquisitions Wolseley plc, the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials, announced four further bolt on acquisitions for an aggregate consideration of £13 million. In a full year, these bolt on acquisitions are expected to add approximately £29 million to total revenue. Since the beginning of the financial year on 1 August 2006, a total of 33 bolt on acquisitions in Europe and North America have been completed for an aggregate consideration of approximately £342 million. These 33 acquisitions are expected to add approximately £590 million to group revenue in a full year. Goodwill and intangible assets related to these acquisitions is estimated to be around £225 million. In addition, on 25 September 2006, Wolseley plc completed the acquisition of DT Group (formerly known as Danske Traelast) for an estimated consideration of £1,353 million, which brings aggregate acquisition spend for the year to £1,695 million. On 5 February 2007, Ferguson acquired the assets of Grif-Fab Corporation from members of the McVey family. Grif-Fab is a distributor and fabricator of fire protection systems with three locations in Colorado, Arizona and New Mexico. In the year ended 30 November 2006, Grif-Fab had revenue of $28.3 million (£14.5 million) and gross assets of $6.9 million (£3.6 million) at that date. On 15 January 2007, DT Group acquired the outstanding 60% of Superbyg Kalaallit Nunaat A/S, which it did not previously own, from Pisiffik A/S. SKN is a builders' merchant with locations in five cities in Greenland. In the year ended 30 June 2006, SKN had total revenue of DKK106.2 million (£9.4 million) and gross assets of DKK60.1 million (£5.3 million) at that date. On 1 February 2007, DT Group acquired the assets of Jarn och Tra Orust AB from Animonhus AB. JTO is a Swedish builders' merchant based in Orust, the second largest island in the west coast archipelago. In the year ended 31 December 2005, JTO had revenue of SEK40.2 million (£2.9 million) and gross assets of SEK8.8 million (£0.6 million) at that date. On 1 February 2007, Wolseley France acquired SA Escaffre & Fils and Eurl Espace Carrelages from Escaffre Developpment. Escaffre is a generalist builders' merchant and ceramic tiles specialist based in Albi, south of France. In the year ended 31 December 2005, Escaffre had revenue of €9.1 million (£6.0 million) and gross assets of €3.5 million (£2.3 million) at that date. write your comments about the article :: © 2007 Construction News :: home page |