(Sharecast News) – UK building materials group Lords is to buy the family-run timber and building supplies company Alloway Timber for £2.25m.
Alloway, which operates five sites in the South East and London and employs 83 people, will join Lords’ Builders Merchant network, taking the brand to 17 locations across the South East.
The acquisitions “will achieve a strong return on capital employed as synergies are realised and the business financially and operationally matures in-line with a typical Lords Builders Merchant profile”.
Lords reckons the purchase will be earnings accretive from 2024.
Lords’ shares were up 0.5% at 7,473.93p on Friday morning.
