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Grafton Group Agrees To Acquire Sitetech Building Products

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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."

Source : Grafton Group PLC

Image : Sitetech Building Products

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22 December 2021

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