Wolseley has acquired heating, plumbing, tiling and bathroom businesses Heat Merchants, Tubs & Tiles and Hevac

May 2022 — The shareholders of Heat Merchants, Tubs & Tiles and Hevac have reached an agreement to sell the businesses to Wolseley UK, a portfolio company of Clayton, Dubliner & Rice.

The Heat Merchants Group is a merchant network comprising of 31 branches across Ireland, together with a central warehouse and distribution hub in Athlone. The business sells plumbing supplies, such as spare parts, heat pumps and boilers, with a particular market focus on residential and simple commercial projects in both new build and repairs, maintenance and improvement. Support services offered include technical design and specification, 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 a 42-year track record.

Tubs & Tiles is the largest tile and bathroom retailer in Ireland, with 12 showrooms nationwide plus an established e-commerce channel. In addition to retail sales, it is a key provider to hotels, leisure, retail and multi-residential developments in the commercial sector.

The Hevac Group consists of five companies that supply a range of HVAC products, including large industrial steam systems, underfloor heating, district heating, bespoke stainless steel pipes and renewable energy solutions. The group specializes in heating systems to the commercial, industrial and residential sectors. Hevac engages with customers from the project of concept stage to project delivery.

Founded in 1887, Wolseley is a leading specialist provider of plumbing, heating, cooling and utility products to trade customers, predominantly supplying professional contractors in the repairs, maintenance and improvement market as well as the new construction market. Wolseley trades under a number of leading UK brands, including Wolseley Plumb & Parts, Wolseley Pipe, Wolseley Climate, William Wilson, Jointing Tech, Burdens, and Fusion Utilities. It has around 560 branches nationally, three centers of excellence in the utilities divisions, support centers in Warwick and Ripon, and three distribution centers. Clayton, Dubliner & Rice acquired Wolseley UK in 2021.

Our role in the transaction

Oaklins’ team in Ireland acted as the exclusive M&A advisor to the shareholders of Heat Merchants, Tubs & Tiles and Hevac on their sale to Wolseley UK.