Wolseley Group has announced the acquisition of specialist distributor of air conditioning and ventilation products Kooltech,
Kooltech and Wolseley Group have signed an agreement for the sale of the entirety of the Kooltech business.
This decision follows a detailed search by Kooltech since the end of 2021 for a business partner that can help the company fuel further growth and reach even more customers.
Kooltech, which was established in 1979, and operates across the UK from seven branches, will remain a standalone business and brand.
Kooltech’s senior management team will continue to lead the business, and there will be no change to its operation. The company will remain headquartered in Glasgow, having just signed a 10 year lease extension on its premises in the city, in agreement with Wolseley Group.
Kooltech has also confirmed the opening of an eigth branch, in Cambridge in the coming months, with the recruitment of 20 new members of staff.
Jonathan Brown, Commercial Director of Kooltech, said: “We’re really excited about the opportunity and the benefits that this deal will bring. Kooltech is a business that is performing well and experiencing exceptional growth. Wolseley is a great business that aligns with our culture and ambitions. Wolseley and Kooltech are complementary businesses that will be stronger together.”
Simon Oakland, Chief Executive of the Wolseley Group, said: “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. Kooltech joining our group will enable us to extend our offer to customers further across the sector and create new opportunities for Kooltech as part of a broader business.”
The deal is expected to complete in mid-2023. In the meantime, both businesses will continue to operate as usual.
