Kooltech will remain a standalone business and brand headquartered in Glasgow and its senior management team will continue to lead the company.

Latest results for the year to October 31 2021 show Kooltech had a turnover of £45.7m generating a pre-tax profit of £3.5m while employing 102 staff.

Jonathan Brown, Commercial Director of Kooltech, said: “We’re really excited about the opportunity and the benefits that this deal will bring.

“Kooltech is a business that is performing well and experiencing exceptional growth. Wolseley is a great business that aligns with our culture and ambitions. Wolseley and Kooltech are complementary businesses that will be stronger together.”

 Simon Oakland, Chief Executive of the Wolseley Group, added: “Wolseley is continuing to bring together the UK’s best in our aim to be the most complete specialist provider of plumbing, heating, cooling and infrastructure products.

“Kooltech joining our group will enable us to extend our offer to customers further across the sector and create new opportunities for Kooltech as part of a broader business.”

The deal is expected to complete in mid-2023. In the meantime, both businesses will continue to operate as usual.