Wolseley's biggest deal is formally complete
25 September 2006
Wolsey has officially completed the acquisition of DT Group, first announced on 25 July. At more than £1.3 billion, the purchase of DT Group is Wolseley’s largest acquisition to date. The deal gives the company a major presence in the Nordic region and significantly broadens its European reach.
With more than 8,000 employees, 256 outlets and approximately 10 per cent market share in building materials, DT Group is the Nordic region’s leading distributor of building materials, with operations in Denmark, Sweden, Finland and Norway. This business will allow Wolseley to extend its geographic footprint and strengthen the European management and talent pool. It also enhances diversity by providing more balance between the lightside and heavyside businesses.
Rob Marchbank, Wolseley's Chief Executive Officer, Europe (pictured below, right) said: "The construction materials distribution market in the Nordic region is worth €30 billion. The building materials market remains fragmented so there are good growth opportunities for DT Group. The Nordic economies are robust with GDP growth rates that exceed Euro zone averages. In addition, with low forecast unemployment and inflation, the markets look to remain strong in the future".
DT Group’s President and CEO Steen Wiersoe (pictured above, left) has over 30 years of industry experience. Steen will continue to have responsibility for the business, and joins the European Leadership Team as Managing Director, Nordic Region. All key operational management and DT Group employees will remain with the business and join the Wolseley Group. A small team of senior management from Wolseley, led by Adrian Barden, Senior Vice President, will work alongside the DT Group management to ensure a smooth and rapid integration into Wolseley.
