Wolseley PLC Acquires Clayton, A Large Waterworks Wholesaler
Wolseley plc has acquired, for cash, all of the issued and outstanding stock of Clayton Acquisition Co.
Wolseley plc (Reading, UK)has acquired, for cash, all of the issued and outstanding stock of Clayton Acquisition Co., based in Tampa, Fla., for $110 million. Clayton, the fourth largest wholesale distributor of waterworks, wastewater and storm drainage material in the United States, had sales of $226 million for the year ended Aug. 31.
Clayton operates 31 branches in six states: Florida, Louisiana, Texas, Arkansas, Georgia and Mississippi, and one each in Barbados and Trinidad. Florida accounted for about 70% of its total revenues in 2001.