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Grainger (NYSE:GWW), a leading broad line supplier of maintenance, repair and operating (MRO) products serving businesses and institutions, today announced it has entered into a definitive agreement to sell its U.K.-based Cromwell business to AURELIUS, a global private equity investor, distinguished and widely recognized for its operational approach. In September, Grainger also announced the proposed closure of its Zoro U.K. business, subject to the outcome of required legal, regulatory and employment consultation processes in the United Kingdom.
"Over the past decade we've made a concerted effort to focus our portfolio on the geographies where we can deliver the greatest long-term impact. With this, we've altered our assumptions about our future potential in this region," said D.G. Macpherson, Chairman and CEO, Grainger. "We remain committed to creating value for our customers and driving profitable growth through our High-Touch Solutions model in North America and our Endless Assortment businesses in the United States and Japan."
To account for this event, Grainger will record a one-time, non-cash after-tax loss related to the planned exit of the U.K. market in the range of $190 million to $205 million, the vast majority of which will be recorded in the third quarter of 2025. The transaction is subject to the standard regulatory approvals. This deal is expected to close in the coming months.
Posted In: GWW
