Rexel Sells Plumbing, Distribution Operations for $550M

Rexel Canada Inc., a subsidiary of Rexel S.A., the world’s largest distributor of electrical parts and supplies, has completed the sale of its Plumbing, HVAC and Industrial Products distribution operations to North American subsidiaries of Wolseley plc for an aggregate cash price of $550 million. Rexel has retained the electrical distribution operations that it acquired in connection with its $987 million acquisition of Rexel Canada (formerly Westburne Inc.) in September 2000.

Rexel was represented by a team from Goodmans LLP comprised of Jonathan Lampe, Neil Sheehy, Justin Beber and David Sherman (corporate), Carrie Smit and Jon Northup (tax), Pat Robinson (pensions) and Joel Schachter and Bob Vaux (regulatory) that worked closely with Martine Coiquaud and Rene Merat, general counsel of Rexel and Rexel Canada, respectively. US regulatory matters were handled for Rexel by Wachtell, Lipton, Rosen & Katz and Leonard, Street and Deinard, P.A. Representing Wolseley was a team from Virginia-based Hunton & Williams, comprised of Doug Granger, Adam Gregory and Teddy Damgard, together with in-house counsel Terry Hall, David Meeker and Linda Van Dyke. Wolseley’s Canadian counsel was Stikeman Elliott, represented by John Leopold, Michel Gélinas and Dominique Babin (corporate), Robert Hogan and Derek Chiasson (tax), Gary Nachshen (pensions) and Martin Scheim (competition).