Building products distributor Heywood Williams have announced the acquisition of Irish architectural hardware firm Avenco for £15.6m.
Avenco have two principal operating companies Balmar, mainly supplying builders and developers, and Locks & Hardware, which supplies builders merchants and architectural ironmongers across Ireland.
The purchase makes a neat fit, as the company’s largest single supplier is the Carlisle Brass Group, which Heywood acquired in 2006.
And says the company should allow Heywood Williams to further develop key accounts, enhance the route to market for the Carlisle Brass brand in the Republic of Ireland and create a “strong platform” for the introduction of new product ranges.
Commenting on the acquisition, Heywood Williams Group ceo Robert Barr said, ” We are delighted to announce the Avenco acquisition. Avenco is a high quality, leading business, with an excellent management team. The acquisition builds on our strategic acquisition of the Carlisle Brass Group, further strengthens our position in the architectural hardware market and complements our leading position in the hardware market in Ireland.”