Plumbing

Travis Perkins plc – Disposal of Plumbing & Heating enterprise

Travis Perkins (TPK) Travis Perkins plc – Divestment of Plumbing and Heating Business 20-May-2021 / 20:26 GMT / BST Disclosed regulatory notice containing inside information pursuant to REGULATION (EU) No. 596/2014 (MAR) by EQS Group. The issuer is solely responsible for the content of this announcement. = ————————————————- ————————————————– ——————- May 21, 2021 Travis Perkins plc to divest Plumbing & Heating business Travis Perkins plc today announces the sale of its Plumbing & Heating distribution business (“P&H” ) known to a subsidiary of HIG Capital, a leading global alternative investment company, for a cash payment of £ 325 million, debt and cash free and subject to customary adjustments. The transaction is expected to be completed within the next three months. In addition to the recent spin-off from Wickes, the sale of P&H marks the completion of the group’s portfolio actions outlined at Capital Markets Day in December 2018. Given the group’s strong balance sheet and robust liquidity position, Travis Perkins intends to use the net proceeds from the post-transaction sale to shareholders through a combination of a special dividend of 35p per share and, subject to market conditions, a share buyback program. Nick Roberts, Chief Executive, commented, “Today is another important step in our journey towards a simplified group focused on our market-leading trading businesses. Much work has been put into improving the P&H business over the past few years, and I am confident that the business will continue to make excellent progress under the ownership of HIG. I would like to thank all of our colleagues in the P&H business for their dedication and hard work as part of the Travis Perkins Group, especially during an extremely challenging year and wish them all the best for the future. After the spin-off from Wickes in April 2021, the group has now implemented the planned measures to simplify its portfolio and the strong balance sheet of the group enables us to give the net proceeds to shareholders with a view to the future the group has a bright future as a leading supplier of building products in the United Kingdom tannien and we look forward to setting out our plans later this summer to continue to grow. ” For the fiscal year ended December 31, 2020, P&H had sales of £ 1,041 million, adjusted operating profit of £ 17.9 million * and a pre-tax loss of £ 1.7 million. The gross net worth as of December 31, 2020 was £ 580 million. Morgan Stanley & Co. International plc is acting as financial advisor to Travis Perkins plc in relation to the transaction. * Including £ 1.4m in real estate profits Inquiries: Travis Perkins Powerscourt Matt Worster Justin Griffiths / James White +44 (0) 7990 088548 +44 (0) 207 2501446 matt.worster@travisperkins.co.uk travisperkins @ powerscourt -group.com Heinrich Richter +44 (0) 7392 125417 heinrich.richter2@travisperkins.co.uk

About Travis Perkins

Travis Perkins plc is the UK’s leading supplier of materials and equipment to the construction, home improvement and home improvement markets and operates market leading companies including Travis Perkins Builders’ Merchants, Toolstation and three construction, heating and interior design retailers, Keyline, BSS and CCF. With annual sales of over £ 4 billion, the group employs over 16,000 people across the UK, but also in France and Benelux through Toolstation. The company can look back on a proud history of over 200 years.

Travis Perkins plc is listed on the London Stock Exchange (LSE: TPK) and is included in the FTSE 250 index of publicly traded companies. For more information, please visit www.travisperkinsplc.co.uk

About HIG Capital

HIG is a leading global private equity and alternative asset investment company with over EUR 36 billion in equity under management. HIG is based in Miami and has offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the USA as well as international offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo Specialized in providing both debt and equity to small and medium-sized businesses using a flexible and operationally focused / value-adding approach. Since its inception in 1993, HIG has invested and managed more than 300 companies worldwide. The company’s current portfolio comprises more than 100 companies with total sales of over 27 billion euros. For more information, please visit the HIG website at www.higcapital.com ———————————- – ————————————————- – ———————————-

ISIN: GB00BK9RKT01 Category Code: DIS TIDM: TPK LEI Code: 2138001I27OUBAF22K83 OAM Categories: 2.2. Insider information Sequence number: 106485 EQS News ID: 1199123 End of announcement EQS News Service = ——————————– ————————————————– — Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1199123&application_name=news

(END) Dow Jones Newswires

May 20, 2021 3:27 PM ET (7:27 PM GMT)

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