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Wolseley sells

Building materials group Wolseley is to sell all of its 67 Irish outlets to London-based firm WIBHM in the face of a crumbling construction industry.

The company, which has cut its workforce by almost 60pc in the past two years, has agreed to sell in a €26.5m deal.

Two specialists in investing troubled companies are spearheading the takeover of DIY and builder's suppliers chains Brooks and Heat Merchants by private investors. WIBHM's director, James Weight, and its company secretary Roland Houchin, are partners with private equity firm, Epic.


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