Wolseley sells Electric Center

Wolseley, the builders’ merchant, signed an agreement to sell its Electric Center business to Edmundson Electrical, a leading distributor of electrical equipment in the UK. The sale will be completed in the next few weeks following a period of employee consultation, the group said in a statement yesterday. It follows the sale of its Brandon tool hire business last year for business from the Electric Center generated revenue of £130m. “This transaction is in line with our strategy of focusing on businesses where we can create leading market positions,” said Ian Meakins, Wolseley’s chief executive.