Wolseley UK announces sale of Electric Center
Wolseley UK has today entered into an agreement to sell its Electric Center business to equipment distributor Edmundson Electrical.Electric Center employs around 570 people and operates through a network of 84 branches. In 2010, its turnover was £129m.
Wolseley UK has made a decision that electrical wholesale is no longer a core strategic business activity for the UK business.
Wolseley UK’s managing director Steve Ashmore said, ‘This decision has not been taken lightly as Electric Center is a fundamentally sound and well run business, but we believe it offers the best way forward for Wolseley UK as well as for Electric Center and its employees.’
Wolseley UK anticipates that the deal will complete by the end of July.