Builders' merchant extends presence in South East with acquisition of Passmore Drywall & Insulation
Builders’ merchants Travis Perkins has acquired Passmore Drywall & Insulation for £13.4m.
Passmore sells drylining and insulation products at five merchants in East London, Basildon, Cannock, Christchurch and West London.
It had a turnover of £19.6m and an operating profit of £1m for the year ended 31 December 2005.
The Passmore branches will become part of Travis Perkins Commercial Ceiling Factors business. CFF, which supplies dry lining, insulation, ceilings and partitions, will now operate from 30 branches.
During 2006 Travis Perkins added 39 branches to its network and three Wickes stores, increasing the total number of branches to 1,022.
Travis Perkins chief executive Geoff Cooper said: “The acquisition of Passmores further enhances our offering to the specialist distribution sector, and is consistent with our strategy of investing in opportunities for growth and in our chosen areas of product specialisation.”