Acquisition of Encon
Wolseley UK has announced the acquisition of insulation distribution specialist Encon, the second largest specialist distributor in the UK insulation market. The acquisition will add 22 locations to Wolseley UK, which last month reported an 11 per cent increase in annual sales for the year to 31 July 2005.
Adrian Barden, Managing Director of Wolseley UK, said: “This acquisition allows us to offer our customers an even wider range of specialist construction materials, and is in line with our strategic goals of offering the best choice and most effective supply chain solutions to the construction sector.”
A leading distributor within the UK insulation market with 550 employees across the UK, Encon is a specialist in mineral fibre insulation, foam insulation and drywall, ceiling and partition products. In the UK, the insulation market is currently worth around £1.4bn and promises strong growth in response to legislation for improved thermal and acoustic performance in new and existing buildings.
Adrian Barden added: “Encon is a very healthy business with impressive past and projected sales growth. It represents a strong fit with our existing portfolio and distribution network and strengthens our insulation offering. We see this as a significant growth market and we plan to build our market share as legislation drives demand for insulation products.
“We are committed to investing in our current portfolio, and to acquire businesses which strengthen and support our core brands to deliver value added services to our customers,” he added.
