Posted 16th January

Norcros to buy South African plumbing company

16th January 2019 - 15:34pm
money matters, norcros, acquisition, south africa, house of plumbing, kbb, kbbdaily

Norcros’s South African division, Norcros South Africa (Proprietary) Limited, is set to wholly acquire South African plumbing company RAP Plumbing Supplies, trading as House of plumbing, for around £12.1m – ZAR 215m.

Johannesburg-headquartered House of Plumbing is a supplier of plumbing materials for the specification and commercial markets. The business – which also has offices in Pretoria and Lephalale – employs 102 staff.

The company’s managing director Robin Roberson and the rest of its management team will stay with the business following the acquisition by Norcros. House of Plumbing generated revenue of around £22.1m – ZAR 172m – in the year ending 30th April 2018, as well as pre-tax profit of around £1.9m – ZAR 3m.

“I am excited by the acquisition of House of Plumbing as it will enhance our product offer to the important commercial and specification segments of the South African market where we have been successfully building our business,” said Norcros group CEO Nick Kelsall.

“The acquisition also offers a number of opportunities to drive growth through geographical expansion and through our existing distribution channels. I look forward to working with Robin and his team to further develop and grow the business.”

Roberson added: “We have been impressed by the energy and enthusiasm of the Norcros management and look forward to working with them to capitalise on the many new opportunities that being part of the Norcros Group will bring.”

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