Saint-Gobain, the French building materials group, has sold its UK pipes and valves distribution business, Ashworth, to a private investment company.
The Ashworth business distributes pipes, valves and fittings to the mechanical services and process industries, trading from six sites with 135 employees in the United Kingdom. In 2014, it generated sales of £32m.
The deal was signed on February 5, 2015 with West Midlands investment firm GIL Investments, with completion due February 28, 2015.
St Gobain described the sales as “part of its ongoing portfolio optimization” and as one of “two non-core businesses that lacked synergies with the rest of its operations.”
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