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Selco owner Grafton acquires Leyland SDM

Leyland SDM

Irish based Grafton Group, owner of Selco and Buildbase in the UK has acquired the Leyland SDM for £82.4 million.

Leyland SDM is currently London’s largest independent specialist decorators’ merchant and Grafton said it was regarded as one of the “most recognisable and trusted” decorating and DIY brands in central London selling paint, tools, ironmongery and accessories.

Their network of 21 stores are located in some of London's most prominent locations including King's Road Chelsea, High Street Kensington, Shaftesbury Avenue, Victoria, Clerkenwell, and Notting Hill. In the last two years, it has further expanded its store footprint with four new stores which opened in Battersea, Mile End, Clapham High Street and Putney as well as opening a brand new distribution centre at Wembley. 

“It prides itself on high levels of customer service, maintaining long standing relationships and carrying a strong reputation with both trade professionals and DIY customers,” it said.

The Leyland SDM “small box” convenience trading format is a proven business model in central London that “complements the company’s larger Selco branches” located in greater London. 

The company's revenue and underlying EBITA came to £47.8m and £7.3m respectively for the year ended 31 December 2017 and Grafton said the deal will be funded from its existing cash and debt facilities. 

Grafton chief executive Gavin Slark said the acquisition was a “unique opportunity to acquire a leading brand with exceptional locations in Central London and expands our presence in a resilient segment of the merchanting market located at the heart of one of the world's leading cities," commented Grafton's chief executive Gavin Slark.

It would, he said, expand the company’s presence in a “resilient segment of the merchanting market located at the heart of one of the world’s leading cities”.

Source: Insight DIY Team

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19 February 2018

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