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Grafton buys decorator’s merchant

 

Grafton Group plc has bought LSDM Limited, operating as Leyland Specialist Decorators Merchants, London’s largest independent specialist decorators’ merchant.

The total amount payable is £82.4 million on a debt-free, cash-free basis. 

Leyland SDM operates  21 branches in some of London’s most prestigious neighbourhoods, including King’s Road Chelsea, High Street Kensington, Shaftesbury Avenue, Victoria, Clerkenwell, Notting Hill. Battersea, Mile End, Clapham High Street and Putney. It sells paint, tools, ironmongery and accessories and also operates a  Distribution Centre at Wembley.  

The Leyland SDM “small box” convenience trading format will complement the Group’s larger Greater London Selco branches. . 

Leyland SDM’s revenue and underlying EBITA was £47.8 million and £7.3 million respectively for the year ended 31 December 2017.  Gross assets are estimated at circa £10.0 million at completion.

Gavin Slark, Chief Executive Officer of Grafton said: “The acquisition of Leyland SDM is a unique opportunity to acquire a leading brand with exceptional locations in Central London and expands our presence in a resilient segment of the merchanting market located at the heart of one of the world’s leading cities”. 

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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