Wolseley to sell Brandon Hire?

UK building materials group Wolseley is trying to sell Brandon Hire, its national tool hire business, according to a report in the Independent on Sunday newspaper.

The report said that Wolseley is trying to reduce its debt of £1.1 billion and that many of its less well performing UK businesses may be sold.

A spokesperson for Wolseley UK told IRN that it did not comment on press speculation and that if there was an announcement to be made it would inform its employees and financial institutions first.

Wolseley bought Brandon Hire four years ago and merged it with its own Hire Center chain of tool hire locations. It was recently ranked number 67 in the IRN-100 list of the world's 100 largest rental companies with revenues of €97 million in 2009.