Wolseley has entered the New York city industrial and commercial market for the first time with the acquisition of certain assets of ProSource Building Supply Ltd.
The group’s US building materials and construction services arm Stock Building Supply bought the assets to further its strategy for expansion in the commerical and industrial market.
Texas-based ProSource supplies primarily commercial doors, trim, hardwood and related specialty products.
In the year ending December 31, 2006, ProSource had revenue of £8.5m and gross assets of £1.6m.
Wolseley is working towards a target for bolt-on acquisitions of £450m for the year to July 31, 2008.
