Rexel acquires Wasco from Gilde

Rexel Group, an electrical wholesaler with activities in more than 20 countries, becomes the new owner of Wasco, a leading wholesaler within the installation sector in the Netherlands. Wasco was owned by Gilde Equity Management (GEM) and Management since 2019. The acquisition remains subject to customary conditions including completion of the consultation process of Wasco’s works council and approval by the European competition authority.

As a wholesaler, Wasco focuses on heating, plumbing, spare parts, ventilation and air conditioning. Wasco has 35 branches, 2 distribution centers, a range of more than 500,000 products and a strong digital platform. Partly as a result of the energy transition, Wasco has experienced strong growth in recent years. The acquisition of Wasco by Rexel offers Wasco the opportunity to continue this growth by further expanding its range and thus helping customers even better in the transition to sustainable energy.

Herold van den Belt, CEO of Wasco, is very positive about the new partnership with Rexel: “After more than 50 years of experience, Wasco has grown into one of the leading and specialized wholesalers in the Netherlands, particularly in the field of HVAC, sanitary and associated spare parts. The partnership with Rexel will enable Wasco to continue to achieve its strategic objectives and will ensure that it is even better positioned to assist its customers in the transition from gas to sustainable energy in the Netherlands. Gilde helped us to develop the organization to the next level in response to the energy transition. With Rexel's help, we can continue to invest in our operations and services to provide the best possible service to our customers. Wasco and Rexel will continue to operate in the Dutch market as two separate companies, under their own names.”

About Wasco
Wasco is a Dutch professional wholesaler of heating, plumbing, spare parts, ventilation and air conditioning. Wasco has 35 branches, 2 distribution centers and a strong digital platform. With more than 50 years of experience, Wasco is a household name in the installation sector. Wasco's HQ is located in Twello.

About Rexel
Rexel Group is an electronic wholesaler that focuses on three markets: residential, commercial and industrial. Rexel Group has more than 1,900 locations in 21 countries worldwide, and more than 26,000 employees. The company is listed on the Euronext index in Paris.

About Gilde Equity Management
Gilde Equity Management (GEM) Benelux is a leading investment company in the Benelux with more than EUR 2.5 billion in assets under management. GEM is known for amongst others EV-Box, Kwantum Leen Bakker, Dunlop boots, HG cleaning products, Licent, Fruity Line, Bruynzeel Storage Systems and Team EIFFEL.