Wolseley plc has announced the sale of its UK tool and equipment business, Brandon Hire Ltd, to Rutland Partners for £43m. Completion is expected within 30 days.
In the year to July 31,Brandon Hire generated around £70m of revenue, while its net assets amount to around £35m.
“We are disposing of the business in line with Wolseley’s stated strategy of focusing on our growth businesses and those with synergies,” said Wolseley chief executive Ian Meakins.
