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Wolseley Group has signed an agreement to acquire air conditioning specialist, Kooltech.
The acquisition will see Wolseley continuing to increase its capabilities as a leading plumbing, heating, cooling and infrastructure trade merchant, offering specialist expertise to customers.
Headquartered in Glasgow, Kooltech is one of the UK’s largest distributors of air conditioning products, and has a history dating back more than 40 years.
The family-owned business employs more than 100 people across seven locations, servicing trade professionals across the climate, cooling, and air conditioning sector.
Kooltech said the decision to sell to Wolseley follows a detailed search by the company since the end of 2021 for a business partner that can help the company fuel further growth and reach even more customers.
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.”
Jonathan Brown, Commercial Director of Kooltech, added: “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.”
The deal is expected to complete in mid-2023. Following completion, Kooltech will operate as a standalone business within the Wolseley Group, with its senior management team continuing to lead the business.
