Stairbox, the Stoke manufacturer and distributor of wooden staircases, has been sold to Grafton Groupm the building materials distributor and DIY retailer, in a deal worth £44m.
StairBox delivers staircase solutions directly to primarily trade customers operating in the residential repair, maintenance and improvement market across the UK. The company reported revenue of £19.5m and adjusted operating profit of £6.1m for the year ended 31 March.
Gavin Slark, chief executive officer of Grafton said: “StairBox is a dynamic manufacturing business with a best in class on-line solution at its core. It has an efficient production process, nationwide distribution and strong growth potential. The acquisition of StairBox is in line with our strategy of acquiring specialist high quality businesses with attractive returns. We are delighted with this acquisition opportunity and the skills and experience that the management team under the leadership of Alex Hancock will bring to the Group.”
The Midlands team of BDO advised StairBox on the deal. The business was advised by Roger Buckley, Matthew Goodliffe and John Stephan in the M&A team. Matt Fleetwood and Mark Lupton from Manchester-based, Beyond Corporate provided legal advice to Stairbox. James McKay and Joe Abbott of Squire Patton Boggs acted for Grafton Group.