Clayton, Dubilier & Rice (CD&R) takes majority stake in Wolseley UK

UNITED KINGDOM Industrial Services / Industrial & Technical Distribution EV £300–700M

Context

Clayton, Dubilier & Rice has completed the acquisition of Wolseley UK from its former parent company, Ferguson plc (LSE: FERG). This strategic carve-out allows Ferguson to focus exclusively on its North American operations while providing Wolseley with the dedicated capital and operating capabilities needed to accelerate its growth in the UK market. The investment marks CD&R’s 12th industrial distribution investment in a decade, signaling a strong belief in Wolseley’s platform as an "inflection point" for operating improvements and future inorganic expansion. Under the new ownership, the company is led by CEO Simon Oakland and Chairman Bruno Deschamps (former COO of Ecolab), focusing on building an entrepreneurial culture and pursuing a "buy and build" strategy to consolidate the UK's plumbing and heating distribution landscape.

By taking control of Wolseley UK, Clayton, Dubilier & Rice continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Huntsworth in 2020.

Wolseley UK, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.

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Target

Founded in 1887, Wolseley UK is a leading specialist distributor of plumbing, heating, climate control, pipe, and infrastructure products. The company operates through a vast network of 542 branches and three major distribution centers, employing approximately 5,000 people. Its business model serves a diverse range of customers, from local tradespeople to large-scale commercial contractors, providing mission-critical components such as valves, fittings, air conditioning units, and civil utilities equipment. Wolseley’s value proposition is built on its deep technical expertise, extensive stock availability, and a heritage brand that is among the most respected in the UK building products industry. As a freestanding enterprise, the company focuses on an entrepreneurial culture and a relentless commitment to customer satisfaction within the fragmented UK trade distribution market.

Ent. Value

£300–700M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2020

2019

Other operations with Clayton, Dubilier & Rice (CD&R)

Other operations with Clayton, Dubilier & Rice (CD&R)
Date	Acquirer	Target	Country	Sector
04/2026	CLAYTON, DUBILIER & RICE (CD&R)	SEALED AIR CORPORATION	UNITED STATES	Plastic Packaging
10/2024	CLAYTON, DUBILIER & RICE (CD&R)	OPELLA	FRANCE	Generics / Labs
04/2024	CLAYTON, DUBILIER & RICE (CD&R)	PRESIDIO	UNITED STATES	Consulting & Integration
11/2023	CLAYTON, DUBILIER & RICE (CD&R)	VERITIV CORPORATION	UNITED STATES	Packaging & Containers
05/2020	CLAYTON, DUBILIER & RICE (CD&R)	HUNTSWORTH	UNITED KINGDOM	Healthcare Services
12/2019	CLAYTON, DUBILIER & RICE (CD&R)	SOCOTEC	FRANCE	TIC (Testing, Inspection, Certification)

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02/2021	APAX PARTNERS / BPIFRANCE	BTP CONSULTANTS	FRANCE	TIC (Testing, Inspection, Certification)
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12/2020	SGS	SYNLAB ANALYTICS	GERMANY	TIC (Testing, Inspection, Certification)
12/2020	APPLUS+ GROUP	QPS EVALUATION SERVICES	CANADA	TIC (Testing, Inspection, Certification)
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REFERENCES

Valuation range: EV £300–700M

Revenue range: £1–10bn

EBITDA range: £10–30M

EV/Revenue range: below 1.5x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Wolseley UK by Clayton, Dubilier & Rice (CD&R) are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: wolseley uk

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Wolseley UK, a British company specialised in Industrial & Technical Distribution, by Clayton, Dubilier & Rice in 2021, structured as a leveraged buyout (LBO).

How was the acquisition of Wolseley UK by Clayton, Dubilier & Rice valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £300–700M band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Wolseley UK’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Wolseley UK generated annual revenue estimated in the £1–10bn range and EBITDA in the £10–30M bracket (FY 2020). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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