Cavendish advises on the sale of AC Electrical

Published July 06, 2006

Cavendish is delighted to announce the sale of AC Electrical Holdings Plc, one of the country's largest and fastest-growing electrical wholesalers, to Wolseley UK.

With 40 branches nationwide, over 350 staff and a turnover of over £52m in its last financial year, AC Electrical is a leading player in the UK electrical distribution market.

The sellers of AC Electrical will remain with the company and were delighted with the outcome of the transaction, which was completed less than three weeks after Commercial Heads of Agreement were signed.

At completion, AC Electrical Finance Director David Bell said: "We set ourselves a very aggressive timetable for achieving completion of the deal, something that was imperative to both Wolseley and ourselves. Cavendish worked hard on our behalf to both maximize the terms achieved and to drive the transaction to complete on time.''
''Cavendish's familiarity with the issues involved was invaluable and they were able to give us fully informed advice at all stages of the transaction.''

Cavendish contacts for further information:
Jonathan Buxton, Director, Consumer Group
Nadia Sayeed, Executive

Media enquiries contact:
Damien Packer, Marketing Manager - 0207 908 6000