Travis Perkins plc, which is one of the UK’s largest suppliers of building materials and equipment, and a leading partner to the construction industry, has announced that it has fully acquired Staircraft; a market leading company that provides integrated stair, floor and door solutions.
This development expands Travis Perkins’ customer proposition by adding digital component design, timber engineering and production capability to its portfolio.
Travis Perkins first acquired a minority share (15%) in Staircraft in 2015, and announced its intention to fully acquire the remaining share (85%) of the company at an investors update on 29 September.
"We have enjoyed a close working relationship with Staircraft for the past six years and believe this partnership has many more opportunities for further growth potential for both parties," explained Group COO, Frank Elkins.
"Staircraft is a very exciting business; technology-led and well known for innovation and quality, and for delivering engineering solutions that are developed offsite in factory based conditions. This means that their offering plays right into our future strategy of elevating our customer relationships by providing new areas of value-added products and services that deliver efficiency, quality, sustainability and innovation in design, engineering and production," Frank continued.
"For us, being part of Travis Perkins plc will give us access to new markets, investment and growth opportunities. We also know that our businesses are a great match from a cultural and values driven perspective, and that this partnership will give our colleagues access to new and improved benefits and career and development prospects over time," said Managing Director of Staircraft, Andy Hamilton, who will remain in post with his leadership team under the new ownership.
Staircraft dates back to 1986 and has 350 employees. The company is headquartered in Coventry and operates from three manufacturing sites across the UK.