Grafton expand with two acquisitions

Building firm Grafton plc has added two new companies to the group with the acquisition of The Telford Group Limited in Ireland and Plumbline Supplies Limited in Scotland for a total cost of €40m.

Telfords has three branches in Ireland and is based in Portlaoise, Co Laois. Grafton expects the purchase to enhance its coverage in the Midlands area.

Sales of €27m for the year ended January 31, 2003 were reported by Telford.

Plumbline is Scotland’s leading independent plumbers merchant with 17 branches.

The company reported sales of €40m for the year ended July 31, 2003.

Grafton’s plumbing network in the UK trades under the Plumbase brand and this acquisition brings the network into Scotland for the first time. Plumbase will now have a total of 135 branches in the UK.

Commenting on the announcement today, Michael Chadwick, Chairman of Grafton said: “The Plumbline acquisition gives the Group an initial but important presence in the Scottish plumbers merchanting market. We already have strong market positions in the south and in the midlands of England

"The Telford acquisition is significant in strengthening our presence in the midlands. We will now have branches in Portlaoise, Athy and Mountrath.

"We are committed to the continued growth of our branch network in Ireland as well as overseas,” Chadwick added.