2nd Mar 2015 07:55
LONDON (Alliance News) - Grafton Group PLC Monday said its has bought mechanical engineering product business TG Lynes Ltd, a deal that boosts its presence in the sector and is expected to boost group earnings right away.
The Irish builders merchants and DIY company, said TG Lynes has an established and strong position in the mechanical services market in London and the South East of England and trades from a 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," it said.
Grafton didn't give any financial details about the transaction or about TG Lynes.
By Steve McGrath; [email protected]; @stevemcgrath1
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