Wolseley Group has signed an agreement to acquire air conditioning specialists Kooltech.
by Rory Butler / January 18, 2023
Kooltech, headquartered in Glasgow, will continue to operate as a standalone business within Wolseley Group.
Wolseley said the acquisition will increase its portfolio of suppliers and distributors across the UK.
Kooltech employs more than 100 people across seven locations.
The deal is expected to complete mid-2023.
“Wolseley is continuing to bring together the UK’s best in our aim to be the most complete specialist provider of plumbing, heating, cooling and infrastructure products,” said Simon Oakland, chief executive of Wolseley Group.
Kooltech recorded turnover of £45.7 million for the year to 31 October 2021, with pre-tax profits of £3.5 million.
If you enjoyed this article, we also recommend Vistry acquires Salisbury site for 640 homes