Heating, plumbing, tiling and bathroom businesses Heat Merchants, Tubs & Tiles and Hevac have been bought by Wolseley UK for an undisclosed sum.
The three businesses combined have revenues of about €150m and employ over 400 people in 47 locations nationwide.
Wolseley UK said that all of the jobs in the three businesses will be retained, and it is also planned that the individual brands will be retained.
Heat Merchants, which focuses on the heating and plumbing sector, has 31 branches all across Ireland together with a central warehouse and distribution hub in Athlone.
Tubs & Tiles is the largest tile and bathroom retailer in Ireland, with 12 showrooms nationwide plus an established ecommerce channel. In addition to retail sales, it also sells to hotels, leisure and multi-residential developments in the commercial sector.
Hevac specialises in heating systems to the commercial, industrial, and residential sectors. Its capabilities include large industrial steam systems, underfloor heating, district heating, and renewable energy solutions.
Today's deal also includes the acquisition of other successful brands including Tube Company of Ireland, Polytherm Heating Systems Origen Energy and Aluminox
The acquisition is subject to clearance from the Competition and Consumer Protection Commission.
Shane Colleran, Director of Heat Merchants Group, said the change to Wolseley ownership could not have been better timed.
"It will allow us to build on the momentum we have generated over recent years and enable us to invest in the significant market opportunities in Ireland," Mr Colleran said.
"There's been a considerable increase in activity to address housing under-supply coupled with the continued development of commercial and industrial infrastructure on which this transaction will enable us to capitalise," he added.
Garrett White, Director of Hevac, said the company was incredibly optimistic about the substantial opportunities presented by this acquisition by Wolseley.
"The new ownership will allow us to contribute the appropriate resources and skills to further invest in Hevac and leverage Wolseley's broader operational capabilities," he added.
"This is a very exciting announcement for Wolseley as it acquires Heat Merchants, Tubs & Tiles and Hevac, all well-known brands in Ireland providing a local and personal service, which Wolseley will further build on," said Simon Oakland, CEO of Wolseley UK.
"Wolseley, itself, is undergoing an ambitious growth strategy through business acquisition and this latest announcement is a key part of this," he added.
