Grafton Group PLC Agreement to Acquire Sitetech Building Products (4677W)
December 22 2021 - 2:00AM
UK Regulatory
TIDMGFTU
RNS Number : 4677W
Grafton Group PLC
22 December 2021
Agreement to Acquire Sitetech Building Products in Ireland
22 December 2021
Grafton Group plc ("Grafton"), the building materials
distributor and DIY retailer with operations in the UK, Ireland,
the Netherlands and Finland is pleased to announce that it has
agreed to acquire Sitetech Building Products ("Sitetech"), the
market leader in the distribution of specialist construction
accessories in Ireland where the business trades from two locations
in Dublin and Cork.
Completion of this acquisition is subject to approval by the
Competition and Consumer Protection Commission in Ireland.
Sitetech reported revenue of EUR16.9 million (GBP15.0 million)
in 2020.
Sitetech has developed over the past decade to become the market
leader and trusted distributor of specialist construction
accessories to many of the country's major construction companies.
Sitetech is primarily a distributor of accessories for brickwork,
concrete and formwork and construction chemicals. These products
are mainly used in the early stage construction of multi-unit
buildings including offices, apartments, hotels, warehouses and
commercial buildings and also in public sector and residential
development projects.
Commenting on the acquisition Gavin Slark, Chief Executive
Officer of Grafton said today:
"Sitetech will bring expertise to Grafton in the distribution of
specialist construction accessories for large scale construction
projects in Ireland. It will also enable us to offer a broader
range of products and services in a new market segment. This
acquisition is in line with our strategy of acquiring specialist
high quality businesses in complementary markets and follows the
successful acquisition earlier this year of Proline Architectural
Hardware, a leading distributor of architectural ironmongery
products based in Dublin."
For further information please contact:
Grafton Group plc +353 1 216 0600
Gavin Slark Chief Executive Officer
David Arnold Chief Financial Officer
Murray +353 1 498 0300
Pat Walsh
MHP Communications +44 20 3128 8100
Tim Rowntree/Rachel Mann
About Grafton
Grafton Group plc is an international distributor of building
materials to trade customers and has leading regional or national
positions in the merchanting markets in the UK, Ireland, the
Netherlands and Finland following the acquisition of IKH in July
2021. Grafton is also the market leader in the DIY, Home and Garden
retailing market in Ireland and is the largest manufacturer of dry
mortar in the UK where it also operates a market leading staircase
manufacturing business.
For further information visit www.graftonplc.com
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