1st May 2026 09:26
Grafton Group PLC - Dublin-based building materials distributor - Completes acquisition of Spanish, family-owned Mercaluz group, consisting of Componentes Electricos Mercaluz SA, Mercaluz Hogar SLU, EAS Electric Smart Technology SLU and Mercaluz Canarias SLU. Back in March, Grafton noted the total consideration is up to EUR175 million but expected to total around EUR165 million on a cash and debt free basis. Mercaluz, based in 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 says the purchase reinforces its position in the "fast-growing" Iberian heating, ventilation and air conditioning market.
"We are very pleased to have completed the acquisition of Mercaluz. We look forward to working with the management team and colleagues to support the development and ongoing organic expansion of the Mercaluz brand in the fragmented Iberian marketplace," says Grafton Chief Executive Eric Born.
Current stock price: 886.70 pence, up 1.3% on Friday morning in London
12-month change: down 4.6%
By Christopher Ward, Alliance News reporter
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