A company with a central warehouse, distribution center and administrative center in Athlone has been sold.
Heat Merchants, based on Moydrum Road, Athlone, is among the leading heating, plumbing, tiling and bathroom businesses bought by Wolseley UK.
Wolseley UK announced today (Thursday) the acquisition of Heat Merchants, Tubs & Tiles and Hevac Ltd.
Wolseley itself is a leading specialist supplier of plumbing, heating, cooling and utility products to professional customers.
The acquisition is subject to clearance from the Irish Competition and Consumer Protection Commission.
The three companies combined have a turnover of approximately €150 million and employ over 400 people at 47 sites in the Republic of Ireland.
All jobs will be retained and it is also expected that individual brands will be retained.
Focusing on the heating and plumbing industry, Heat Merchants has 31 branches across Ireland as well as a central warehouse and distribution center in Athlone. Support services offered include design and technical specifications, installer training, commissioning, warranty and after-sales services. The commercial division manages a variety of light commercial and multi-residential projects. It has a well-established position in the market with an experience of 42 years.
Tubs & Tiles is Ireland’s largest tile and bathroom retailer, with 12 showrooms nationwide and an established e-commerce channel. In addition to retail sales, it is a key supplier for hotels, leisure, retail and multi-residential developments in the commercial sector. Hevac Ltd. specializes in heating systems for 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 design stage to project delivery.
The transaction also includes the acquisition of other successful brands, including Tube Company of Ireland Limited; Polytherm Heating Systems Limited; Origen Energy Limited and Aluminox Limited.
Simon Oakland, CEO of 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 local and personal service, which Wolseley will develop further. on. Wolseley itself is the subject of an ambitious growth strategy through corporate acquisitions and this latest announcement is a key part of that.
Shane Colleran, Director, Heat Merchants Group, said: “This transaction and the change in ownership of Wolseley could not have been more timely. This will allow us to build on the momentum we have generated over the past few years and allow us to invest in the significant market opportunities in Ireland. There has been a considerable increase in activity to address the housing undersupply coupled with the continued development of commercial and industrial infrastructure on which this transaction will allow us to capitalize.
Garrett White, Director of Hevac, added: “We are incredibly optimistic about the substantial opportunities presented by this acquisition by Wolseley. The new ownership will allow us to bring in the appropriate resources and skills to further invest in Hevac and leverage Wolseley’s wider operational capabilities. We are excited about the future and the possibility of accelerating our growth with Wolseley. »
Heat Merchants and Hevac were advised on the transaction by CapNua Corporate Finance and Eversheds.