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Wolseley buys up PFC Corofil Firestops

Specialist trade distributor Wolseley has announced it bought a UK based passive fire protection specialist and Slovakia based distribution company as part of a £33 million global spending spree over the past six months.

Chip Hornsby, group chief executive, said: “I am pleased to make these acquisitions. They are excellent businesses that broaden our product and geographic coverage and support our strategy of growing the business through acquisition and organic growth.”

The purchase of Chessington based PFC Corofil Firestops, for an undisclosed fee, on February 29 is one of five bolt-on acquisitions since November.

High profile projects undertaken by PFC Corofil Firestops include Buckingham Palace, the Tower of London and the Royal Mint. In the last financial year the company’s revenue was £1.9 million.

On March 3 Wolseley completed the acquisition of Slovakian plumbing, heating and sanitary ware distributor Gama which operates eight branches in Slovakia and five in the Czech Republic.
The deal had been held up for three months awaiting competition clearance from the Slovak government.

In North America Wolseley acquired San Francisco based JC Plumbing, Mastercraft Cabinets and part of Precision Doors and Hardware.

Over the past year the company has purchased five companies in Europe for £91 million and 10 in North America for £112 million.