Jewson, certainly one of Britain’s greatest builders’ retailers, is being put up on the market, paving the way in which for a change of possession after greater than 20 years in French possession.
Sky News has learnt that Compagnie de Saint-Gobain, the Paris-listed group, has employed funding bankers from JP Morgan to discover a sale of its UK enterprise.
Jewson, which trades from 400 branches and employs roughly 6,000 individuals, is likely one of the trade’s best-known names.
It was based in 1836, and provides bricks and timber, in addition to providing specialist device rent and landscaping and roofing companies.
The valuation that Jewson would possibly appeal to in a sale was unclear on Wednesday, though one supply near the method recommended that the enterprise may very well be lossmaking on a standalone foundation.
Saint-Gobain doesn’t get away monetary or working information for Jewson in its outcomes.
The UK builders’ service provider has been owned by its French mother or father firm since 2000, when Meyer International was acquired by Saint-Gobain in a deal value simply over £1bn.
A sale of Jewson would come at a time when trade information means that UK building exercise is contracting, providing additional proof of a slowing economic system.
Jewson competes with distinguished names similar to Travis Perkins, which is valued at £1.75bn on the London inventory market.
Saint-Gobain declined to touch upon its plans for Jewson.
Source: information.sky.com”