Agreement to Acquire Sitetech Building ProductsSource: RNS
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 €16.9 million (£15.0 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
MHP Communications +44 20 3128 8100
Tim Rowntree/Rachel Mann
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