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23 Aug 2022

MCF acts as Financial Adviser to the shareholders of C.P. Hart on its sale to Wolseley Group

Charco 2010 Limited (“C.P. Hart”), the UK’s leading premium bathroom supplier, has been acquired by Wolseley UK Limited (“Wolseley Group”). Through this strategic acquisition, Wolseley Group expands its bathroom portfolio and enters into the premium segment.

Throughout this transaction, MCF advised the shareholders of C.P. Hart on a successful exit after 14 years of ownership, leveraging MCF’s extensive network and expertise within the consumer space.

"Becoming part of the Wolseley family, with its strong commitment to growing its position in the bathroom market, is a great result for our business and we are confident that Wolseley will help C.P. Hart to realise its ambitious expansion plans. MCF played an important role in achieving the objectives of me and my fellow shareholders. We’re grateful for the expertise and support provided by MCF throughout the process."

Richard Reynolds

Chairman of C.P. Hart

The Deal

The sale to Wolseley Group was initiated to facilitate the exit of C.P. Hart’s shareholders and to support C.P. Hart’s next phase of growth. The shareholders and senior management team will remain invested in the Company alongside Wolseley Group.

The Target

Founded in 1937, C.P. Hart has grown both organically and through selective acquisitions to become the UK’s leading premium bathroom supplier. The company supplies many of the world’s top premium bathroom brands in addition to a full range of exclusive and own branded products.

Since being acquired by current ownership in 2008, the business has grown from 4 showrooms to 15 showrooms in the UK’s most affluent geographies and has more than tripled its sales.

About Wolseley Group

Wolseley Group is a leading specialist provider of plumbing, heating, cooling, and utility products to trade customers. Trading under several leading UK brands, including Wolseley Plumb & Parts, Wolseley Pipe, Wolseley Climate, William Wilson, Jointing Tech, Burdens, and Fusion Utilities. It has over 560 branches nationally, three centres of excellence in the utilities space, support centres in Warwick and Ripon, and four distribution centres.