Acquisition of TG Lynes Ltd

RNS Number : 1589G

Grafton Group PLC

02 March 2015

 



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. 

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For further information please contact:

Grafton Group plc ([phone])

Gavin Slark, Group Chief Executive Officer

David Arnold, Group Chief Financial Officer

Murray Consultants ([phone])

Pat Walsh

MHP Communications ([phone])

James White

 

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