Building supplies company buys out one of its main competitors, consolidating its leading position in Ireland
Building products supplier Heywood Williams has acquired the Avenco group of companies for £15.6m.
Avenco has two principal companies: Locks & Hardware and Balmar. Balmar is an architectural ironmonger, while Lock & Hardware supplies similar products to builders merchants, architectural ironmongers and manufacturers. Both companies have a strong presence in Ireland.
Robert Barr, chief executive of Heywood Williams, said: “The acquisition further strengthens our position in the architectural hardware market; it provides a strong platform for new product introductions and complements our leading position in the hardware market in Ireland.”