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Travis Perkins sells plumbing and heating business

Christian Fernsby ▼ | January 13, 2020
Travis Perkins has sold its wholesale plumbing and heating business Primaflow to specialist distribution group Newbury Investments for £46 million.
Travis Perkins
Acquisition   Travis Perkins
Travis Perkins says that the sale, which is expected to complete at the end of January, will be used to reduce its net debt and will allow its remaining plumbing and heating business to "focus on delivering market-leading service to our direct trade customers".

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The sale is, in these regards, in line with the group’s strategy to simplify and focus on its advantaged trade businesses. The group also expects to demerge its home improvement division Wickes during the second quarter of 2020.

Travis Perkins acquired Primaflow, a wholesale distributor of branded plumbing and heating products, from the BSS group in 2010. Primaflow’s attributable profits after adjusting items for the year ending December 2018 were £5 million, with gross assets listed at £102 million as of 30 June 2019.