Sentio has advised Wolseley UK on its recent acquisition of the majority of the Burdens Group, one of the leading suppliers of drainage and civil engineering products in the UK.
On 2 November Wolseley agreed to acquire 22 sites from Burdens, which in the 3 months ended 30 September 2012 generated revenue of approximately £40 million. Consideration is expected to amount to approximately £30 million and as part of the transaction approximately 600 Burdens employees will join the Wolseley Group.
Commenting on the transaction, Sentio Partner Rory Wade said:
"This is another great deal for Sentio to have advised on. The acquisition has helped extend the reach of Wolseley's successful utilities business in the UK and gain one of the leading positions in the underground drainage sector. It was completed in a short timescale and is a good example of how Sentio's partner-led and hands-on approach can rapidly deliver effective solutions".