Wolseley Enters Irish Insulation Market
Wolseley established a strong presence in the Irish insulation market with the acquisition of four Irish insulation distribution companies.
The four acquired companies, Morris Insulations Ltd, Acoustic and Thermal Insulations Ltd, Customised Insulation Manufacturers Ltd and Construction Insulation Distributors Ltd are all based in the Dublin area, and together employ around 60 people, with a turnover of £10.5m (€15.6m) in 2005. The combined companies were Ireland’s leading independent distributors of insulation materials, including industrial heating and ventilation insulation, passive fire protection, acoustic insulation, structural insulation, and customised insulation products.
The senior management teams of the four companies are staying with the companies, which will report into Wolseley's specialist insulation company Encon.
Commenting on the acquisitions, Encon managing director Gerry Fallon said: “This group of four companies provides Encon with an excellent platform from which to serve the Irish insulation market. Their product range complements that of Encon, and there is scope to extend the range of products they offer to the important Irish construction market.
“These businesses are well run, with experienced management and we will keep their distinct trading styles.”