Wolseley set to complete Kooltech acquisition
7th December 2023
UK: Wolseley is set to complete the acquisition of Kooltech after agreeing to dispose of Kooltech’s Aberdeen branch.
The Competition and Markets Authority (CMA) had previously raised concerns that the proposed acquisition, which was first announced in January, could leave customers in Aberdeen facing higher prices or lower quality services.
Following undertakings offered for the divestment of Kooltech’s branch in Aberdeen, the CMA said it considers that there are “reasonable grounds for believing that the undertakings offered by the parties, or a modified version of them, might be accepted by the CMA under the Enterprise Act.”
“We hoped not to lose anyone from the Kooltech family because of the sale process and we will be supporting the Aberdeen staff throughout as a priority,” said Kooltech commercial director Jonathan Brown.
“We will continue to work with the CMA, Wolseley and our advisors, to agree the detail to enable us to effect the Aberdeen disposal as soon as possible,” he added.
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