Grafton Group plc has announced that it has agreed to acquire Sitetech Building Products. The completion of this acquisition is subject to approval by the Competition and Consumer Protection Commission in Ireland.
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. Sitetech currently trade from two locations in Dublin and Cork and reported a revenue of €16.9 million (£15.0 million) in 2020.
Gavin Slark, chief executive officer of Grafton, said: “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.”