19th Mar 2026 11:50
Grafton Group PLC - Dublin-based building materials distributor - agrees to acquire the Spanish, family-owned Mercaluz group, consisting of Componentes Electricos Mercaluz SA, Mercaluz Hogar SLU, EAS Electric Smart Technology SLU and Mercaluz Canarias SLU. Consideration is up to EUR175 million but Grafton expects it to total approximately EUR165 million. Mercaluz, based in the Iberian Peninsula's Alicante province, distributes domestic and commercial air conditioning equipment to professional specialist mechanical engineer installers, and holds European rights to the "fast-growing" brand Johnson. Grafton notes Mercaluz's "strong growth in 2025", including unaudited revenue of EUR150.4 million and adjusted operating profit of EUR22.2 million. Says the acquisition consideration will be determined following completion of the statutory audited results. Expects the takeover to be earnings-enhancing in its first full financial year, followed by an "attractive" medium-term return on invested capital. Also notes that Spain "was amongst the best performing economies in Europe last year", with the construction sector forecast to grow by between 3% and 4% this year. Read More
