Benchmark International is delighted to announce the acquisition of Somerset-based R.E.S by Wolseley.
R.E.S is an MCS-accredited renewable equipment specialist that operates nationwide. Working with trade, the company supplies a complete range of renewable and energy-efficient technologies including heat pumps, underfloor heating, solar PV, EV chargers and MVHR.
Established in 1887, Wolseley has grown to become the leading plumbing, heating & cooling, and infrastructure trade specialist merchant in the UK. The company has offices in Warwick and Ripon, distribution centres in Melmerby, Milton Keynes, and Measham and around 560 branches across the UK.
The addition of R.E.S to the Wolseley Group portfolio will enhance strategic growth, while enabling Wolseley to expand within the renewables space. The move marks Wolseley’s first ever purchase of a company that is purely specialised in offering renewable systems.
Post sale, R.E.S will retain its brand identity with business operating as usual. Managing director, Shane Oxberry, will also remain with the business.
Mr. Oxberry commented on the acquisition: "We are delighted to be joining forces with the Wolseley Group which presents an incredible opportunity for R.E.S to scale our impact and drive the adoption of renewable energy solutions across the UK. We share a common vision for a sustainable future and customer satisfaction. Together we will achieve remarkable advancements in the renewables sector."
Simon Gray, chief executive officer at Wolseley Group, said: “Adding R.E.S to our group of brands is essential for us to be successful in supporting our customers moving towards environmentally friendly products. Our recent launch of ‘Renewables by Wolseley’ is pivotal to this acquisition. Utilising the vast expertise of R.E.S, and combining this with our extensive product range from industry leading brands, provides our customers with the very best in the market.”
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Privately-held M&A Advisor in the World by Pitchbook and Refinitiv’s Global League Tables.