Content about Wolseley

One of the top stories this week was the introduction of Robert Marchbank as CEO of Denver-based ProBuild Holdings. Marchbank is s former executive with Wolseley, where he led European businesses, among other positions.

ProBuild Holdings has announced the appointment of Robert Marchbank, the former CEO of European operations for Wolseley, as its new CEO.  Fred Marino, who had filled the role of interim CEO for the past several months, will continue to serve as vice chairman of the company’s board of directors.

Morrison Supply Co., the fourth-largest distributor of plumbing and HVAC supplies in the United States, has sold a majority share to private equity firm Advent International.

Founded in 1917, Morrison is now the largest distributor of plumbing supplies in the southwestern United States. The company has 77 branches and showrooms, located in Texas, New Mexico, Oklahoma, Louisiana, Arkansas and Kansas. Morrison has several lines of business, including plumbing, heating, ventilation & air conditioning (HVAC), industrial pipes, valves & fittings, oil & gas and waterworks.

The Gores Group, the primary owner of Stock Building Supply, has bought the remaining shares of the LBM company from UK-based Wolseley for an undisclosed sum.  A private equity firm based in Boulder, Colo., and London, The Gores Group acquired a controlling interest in Stock on May 5, 2009.

Wolseley was associated with Stock for 27 years and still owns plumbing and HVAC wholesaler Ferguson Enterprises in the United Sates and Canada. 

Chip Hornsby, former president and CEO of Wolseley, has joined Advent International’s Operating Partner Program. Hornsby will advise Advent, a global investment and corporate buyout firm, on opportunities in the distribution and building products sector. Hornsby will principally work with Advent’s U.S. deal team, which is looking to invest up to $1 billion of equity capital, according to an Advent spokesperson.

Jess Brown, a Wolseley veteran who worked at both Stock Building Supply and Ferguson Enterprises, has been named VP and chief information officer at RelaDyne, a provider of lubrication products and services for equipment management. 

Wolseley, the parent company of U.S. plumbing distributor Ferguson, has announced plans to move its official headquarters to Switzerland in order to reduce its tax burden in England. If approved by shareholders, the London-based firm would create a holding company called “New Wolseley” but continue to employ nearly 10,000 people in the U.K.

New Wolseley would still be listed and traded on the London Stock Exchange, according to the proposal.