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BSS Industrial is a British specialist distributor of heating, ventilation, pipeline and mechanical services equipment, based in Leicester. The business had previously operated as part of the BSS Group prior to its acquisition by the Travis Perkins Group in December 2010.
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| BSS | |
Company type | Subsidiary |
| Industry | Building materials |
| Founded | 1899 |
| Headquarters | Northampton, England, UK |
| Owner | Travis Perkins Group |
| Website | www.bssindustrial.co.uk |
History
editThe company was founded in the East Midlands in 1899 as British Steam Specialties.[1] During 2001, the firm underwent restructuring.[2] During the early to mid 2000s, BSS Group reported strong financial performance, which often exceeded market expectations,[3] and was partially attributed to the British government's spending on social housing, public health and education schemes.[4][5] On the back of this performance, BSS entered the FTSE 250 Index in 2005.[6]
BSS completed numerous acquisitions around this period; these included UBM Cadel (rebranded as PTS) in 1999, specialist valve distributors Pegler & Louden in December 2003,[7] Price Tools and Spendlove C Jebb in 2006,[8][9] Buck & Hickman in 2007 (subsequently sold in 2011 by the new owners of BSS),[10][11] Birchwood Products in 2008,[12][13] Direct Heating Spares in 2009,[14][15] and UGS, a privately owned underground drainage merchant, in 2010.[16][17]
In response to the start of the Great Recession in 2008, which caused a slow down in the wider construction market, BSS gave notice of possible job cuts in response to declining profitability.[18][19] In 2010, it was reported that profits had sharply increased at the company.[20]
On 28 May 2010, the board of BSS Group accepted an indicative £553 million takeover offer from the UK-based builders' merchant Travis Perkins.[21][22][23] This transaction, which was subject to approval from the Office of Fair Trading,[24] was completed on 14 December 2010, at which point BSS Group shares were delisted from the London Stock Exchange.[25][26]
Operations
editBSS Industrial is a supplier of pipeline, process, heating and mechanical services equipment. Its customers range from large national contractors to small, local independents. The company's primary route to market is via a nationwide network of 63 branches.[27] BSS has operated a central warehouse in Lutterworth alongside its dedicated distribution centre in Coventry.[1][28]
References
edit- 1 2 "BSS Industrial Brief History". bssindustrial.co.uk. 15 July 2014. Archived from the original on 15 July 2014. Retrieved 2 November 2020.
- ↑ "Company Spotlight: BSS". constructionnews.co.uk. 29 November 2001.
- ↑ Taylor, Peter (1 April 2008). "BSS edges past market expectations". constructionnews.co.uk.
- ↑ "Govt spending boosts BSS". constructionnews.co.uk. 21 July 2005.
- ↑ "Market Watch". constructionnews.co.uk. 11 December 2003.
- ↑ "BSS sales stay ahead of the market". building.co.uk. 21 July 2005.
- ↑ "BSS Group PLC (BTSM)". investegate.co.uk. 24 May 2004. Retrieved 2 November 2020.
- ↑ "Irish entry". constructionnews.co.uk. 7 September 2006.
- ↑ "BSS Group PLC (BTSM)". investegate.co.uk. 9 March 2006. Retrieved 2 November 2020.
- ↑ Smith, Alex (11 April 2007). "BSS Group completes purchase of BuckHickman". building.co.uk.
- ↑ "BUCK & HICKMAN SOLD FOR £27M". 5 September 2011. Retrieved 2 November 2020.
- ↑ Glancy, Lisa (3 March 2008). "BSS buys Birchwood for £18.4m". constructionnews.co.uk.
- ↑ "BSS buy Birchwood". buildersmerchantsjournal.net. 3 March 2008. Retrieved 2 November 2020.
- ↑ "BSS acquires Direct Heating Spares for £5.7m". constructionnews.co.uk. 3 April 2009.
- ↑ Goh, Brenda (3 April 2009). "BSS Group buys Direct Heating Spares". Retrieved 2 November 2020.[dead link]
- ↑ Whitten, Nick (8 February 2010). "BSS Group acquires UGS for £5.1m". hvnplus.co.uk. Retrieved 2 November 2020.
- ↑ Whitten, Nick (8 February 2010). "BSS Group acquires UGS for £5.1m". constructionnews.co.uk.
- ↑ Pitcher, Greg (12 February 2009). "BSS Group warns of job losses". constructionnews.co.uk.
- ↑ Whitten, Nick (27 May 2009). "BSS Group sales rise but profits dip". constructionnews.co.uk.
- ↑ Gardiner, Joey (23 November 2010). "BSS profits up by a third". building.co.uk.
- ↑ Fletcher, Nick (28 May 2010). "BSS jumps 34% after £553m offer from Travis Perkins". The Guardian. Retrieved 28 May 2010.
- ↑ "Travis Perkins sees turnover growth". constructionnews.co.uk. 11 October 2010.
- ↑ O'Doherty, John; Hammond, Ed (5 July 2010). "Travis Perkins agrees £558m BSS deal". Financial Times. Retrieved 2 November 2020.
- ↑ Kennett, Stephen (27 September 2010). "OFT delays decision on Travis Perkins' bid for BSS Group". building.co.uk.
- ↑ Goh, Brenda (14 December 2010). "Travis Perkins keeps outlook as revenues rise". Reuters. Archived from the original on 17 December 2010. Retrieved 14 December 2010.
- ↑ Cross, Luke (12 October 2011). "Travis Perkins merchanting sales up 11.4pc". constructionnews.co.uk.
- ↑ "BSS Industrial Branch Locator". bssindustrial.co.uk. 2 November 2020. Retrieved 2 November 2020.
- ↑ "BSS stocks up". constructionnews.co.uk. 24 August 2006.
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