SIAC buys further into UK market
Republic of Ireland based construction firm SIAC has purchased Graham Wood Structural for an undisclosed sum.
The purchase of the Sussex-based steelwork contractor is the firm’s second UK purchase in the last 12 months – it bought Bison Structures last year.
Graham Wood has been operational since 1992 and last year its turnover exceeded £17M, while its operating profit margin was between 5% and 10%.
SIAC is among the oldest and biggest Irish construction firms and owns one of the Republic’s largest steelwork contractors, SIAC Butlers Steel.
Commenting on the deal Finn Lyden, Chief Executive, SIAC Construction Group, said: “This acquisition complements our existing UK steel fabrication business, SIAC Tetbury Steel, formerly Bison Structures. We believe that our two UK steel fabrication businesses can benefit from synergies with our Irish operation (SIAC Butlers Steel) and are well placed to deliver complex and challenging projects within London and southern Britain.
“As the most logical geographic area for business expansion, we will seek further acquisition opportunities in the UK, but not necessarily in the steel sector.”