Squire Sanders has advised Grafton Group plc, the builders merchanting and DIY Group, on the acquisition of Brussels-based Binje Ackermans SA. The transaction is expected to close in the first quarter of 2014.
Grafton Group is the third largest builders merchant in the UK, trading under the Buildbase and Selco brands, and is among the top four plumbers merchanting businesses trading under the Plumbase brand. The Group also has operations in Ireland and Belgium.
Trading as MPRO, Binje Ackermans is a six branch builders merchanting business and wholly-owned subsidiary of Saint-Gobain. The acquisition of MPRO will enable Grafton to acquire a business with a leading position in the Brussels market, creating opportunities for scale-related benefits and operational synergies in the areas of procurement, central services and the sharing of best practice.
The Squire Sanders Corporate team advising on the transaction was led by Brussels partner Anthony Van der Hauwaert.