Grafton Group plc
Acquisition of TG Lynes Ltd
Grafton Group plc, the builders merchanting and DIY Group with operations in the UK, Ireland and Belgium, announces that it has completed the acquisition of TG Lynes Ltd, a leading distributor of mechanical engineering products for use in commercial and public sector buildings, apartments and industrial processes.
TG Lynes has a long established and strong position in the mechanical services market in London and the South East region and trades from a purpose built distribution facility in Enfield, North London. The acquisition greatly enhances the Group's coverage of this segment of the merchanting market and is a significant step forward that complements development of the Plumbase Industrial business. Plumbase Industrial currently trades from ten locations following a successful entry into the market with the opening of its first branch in 2013. The acquisition further strengthens the Group's platform for future growth in this target sector and will be earnings enhancing from completion.
Ends
For further information please contact:
Grafton Group plc (+353 1 2160600)
Gavin Slark, Group Chief Executive Officer
David Arnold, Group Chief Financial Officer
Murray Consultants (+353 1 4980300)
Pat Walsh
MHP Communications (+44 20 3128 8100)
James White
