Our History In Detail
The Founding Years
1887
Frederick York Wolseley founds the Wolseley Sheep Shearing Machine Company Limited in Sydney Australia. The company was one of the first to produce a mechanical sheep shearing machine.
1889
After moving the company to Birmingham, England, Frederick York Wolseley forms Wolseley Engineering Limited to further exploit his sheep shearing patents and other agricultural equipment, including the stationary engine. Herbert Austin becomes his works manager and the two start to experiment in the manufacture of motor cars.
1896
The company produces the first Wolseley motor car, a brand which is to become one of the UK's most popular motor cars.
1901
After producing almost one hundred cars, the motor car and machine tool businesses are sold to Vickers Son and Maxim Limited, which eventually becomes the Rover Group, owned at one time by BMW. Wolseley concentrates its efforts on the manufacture and marketing of its sheep shearing and other agricultural equipment. Four years later Herbert Austin resigns his post with the Wolseley Sheep Shearing Company to form the Austin Motor Company, which gives birth to the Austin Seven, a forerunner of today's compact cars.
From Engineering to Distribution
1958
During the 1950s Wolseley expands to manufacture a successful range of electric fencing and motor cultivators.
In 1958 the company merges with Geo H Hughes, another Birmingham based business manufacturing wheels for prams and later wheels for industrial use, and is renamed Wolseley-Hughes.
Although earning good profits and a strong cash generator, the Geo H. Hughes' board is worried that demand for their product will decline and that new opportunities should be sought. The new product developments at Wolseley require additional working capital and new production facilities.
The alliance is an ideal solution for both companies and on 1 May 1958 good friends Cyril Hughes, deputy Chairman of Geo H Hughes and Rodney Drake, chairman and managing director of Wolseley Engineering agree the merger. The £1 ordinary shares are quoted at 20 shillings and sixpence.
The business is still relatively small, Wolseley sales are £1.2 million, Hughes £900,000. Both companies employ around 500 people.
1960
With the purchase of Droitwich Spa based Nu-Way Heating Limited in 1960, the company makes a significant acquisition which is to have a great impact on the Group's development.
Nu-Ways spare parts components business leads to a small subsidiary which, on widening its product range, becomes OBC (Oil Burner Components).
1965
OBC grows both organically and via acquisition with the purchase of Granville Controls and Yorkshire Heating Supplies.
1973
The three businesses - OBC, Granville Controls and Yorkshire Heating Supplies are the main constituents of Wolseley-Hughes Merchants, which commences business on 1 August 1973, and is today known as Wolseley Centers. The subsidiary originally distributes spare parts for burners but as the UK central heating market expands, the business also begins to distribute domestic system radiators and boilers.
Rapid growth begins.
1976
Jeremy Lancaster replaces his father, as Chairman of the Group, implements a programme of expansion through acquisition and a period of rapid growth begins.
1979
Wolseley acquires, by way of an agreed bid, the publicly quoted John James Group of Companies Limited, which.includes several manufacturing companies and a significant distributor of industrial pipe, valves and fittings, which now trades as Pipe Center within Wolseley Centers Limited.
1982
In 1982, as part of its expansion programme, Wolseley purchases Ferguson Enterprises, a distributor of plumbing supplies with around 50 branches on the East Coast of the United States.
1984
With the Group increasingly focused on developing its distribution businesses, both of the original engineering companies, that had become Wolseley Webb, and Hughes are sold.
1985
Wolseley Centers is established to distribute building products. The division operates under Plumb Center, Controls Center and Pipeline Center.
Expansion continues
1986
The Group continues its US expansion with the purchase of Carolina Builders.
As a result of its increased product offerings, the company is renamed to become Wolseley plc on 14 April 1986.
Later this year Wolseley acquires the UK group Grovewood Securities Limited. The company has a number of manufacturing companies as well as a heavyside building distribution business, which now trades as Build Center.
1987
US expansion is consolidated when Familian Corp, a California based building materials distributor joins the Group, followed six months later by the acquisition of Familian Northwest.
1992
The Group looks to Europe to grow its business and in 1992 purchases France's leading supplier of plumbing supplies Brossette. Following this acquisition the Group moves into Austria, Hungary, Germany and the Czech Republic. The deal with OAG Gruppe in Austria establishes Wolseley as the world leader in plumbing and heating supplies.
1993
Wolseley expands its burner and boiler business with the purchase of Enertech from Trellebourg of Sweden, with this acquisition came HRPC, now part of Wolseley Centers.
1998
After strengthening its position in Europe the Group boosts its US operations with six further acquisition in the US. In 1998 integration of Familian and Ferguson Enterprises begins. Together the businesses account for more than half of Wolseley's US distribution revenues. In the same year the Group purchases building supply firm Hall and Co and US lumber company Stock Lumber.
1999
European growth gathers pace again with the acquisition of Heatmerchants in Ireland, Manzardo in Italy and CFM in Luxembourg.
2000
The late 1990s see the Group continue its withdrawal from engineering by selling off its boiler and burner businesses.
In addition in 2000, Cinven purchases most of Wolseley's manufacturing businesses for around £215 million.
2001
Over the last 20 years the Group has expanded its building materials businesses through bolt on acquisitions and organic growth. In February 2001 with the disposal of the majority of the Enertech business it acquired in 1993, Wolseley finally exited the manufacturing industry and is now completely focused on its distribution activities.
Today
Today Wolseley is the world's number one distributor of heating and plumbing products and is a leading supplier of builders' products to the professional market. Wolseley is an international business, operating more than 5,000 branches, in 28 countries in Europe and North America, employing around 79,000 people. Total Group annual sales are £16 billion with nearly 60% in North America. Listed on the London Stock Exchange, the Group has a market capitalisation of around £5.5 billion.