W.W.Grainger/USA strengthens its position in Europe
The maintenance giant is buying the Cromwell Group (Holdings) Limited with all its branches for GBP 310 m (EUR 438 m).
The transaction is to be completed by the beginning of September.
Cromwell, founded in 1970 and based in Leicester/UK, has a turnover of EUR 283 m (EUR 400 m) as at 31.8.2015, making it the largest servicing wholesaler (MRO) in the UK. Its business is generated mainly in the UK, although customers are supplied all over the world.
Grainger regards the United Kingdom and Germany as the largest e-commerce markets in Europe, whereas the US is of course a step further ahead.