Fusion Provida UK Limited (FPUK) and Utility Power Systems Limited (UPS), two trading businesses of Fusion Group Ltd, have been bought by Wolseley UK it was announced today 1st April 2014.
Fusion Provida UK Limited (FPUK) and Utility Power Systems Limited (UPS), two trading businesses of Fusion Group Ltd, have been bought by Wolseley UK it was announced today, 1st April 2014.
Wolseley UK is the main operating subsidiary of Wolseley plc, the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials in North America, the UK and Continental Europe. They provide construction products and materials through a nationwide branch network, including Plumb and Parts Center, Pipe Center, Climate Center, Drain Center, Burdens, bcg, Integrated Services and William Wilson.
The sale was announced today and includes lease of FPUK's National Sales Office, National Distribution Centre, Hire & Repair facility, and the UPS facilities in Chesterfield, Derbyshire, and FPUK's 8 regional depots. The sale covers some 200 FPUK and UPS employees.
Mark Kemmitt, Trading Director for FPUK, said: "This is a fantastic growth opportunity for our businesses. I'm confident that Wolseley UK will be able to open up many exciting markets as well as providing access to the investment we need to focus on building our position in the utilities and infrastructure sector.'
"Although today's deal means that Wolseley UK now legally owns and has responsibility for Fusion Provida and UPS, Wolseley UK is filing with the Competition and Markets Authority (CMA) to clear the purchase. However, as the business complements Wolseley UK's existing portfolio we hope to obtain clearance from the CMA and complete this process within three to four months."