Squire Patton Boggs has advised Grafton Group plc, an international leader in the distribution of construction materials, on the acquisition of Mercaluz Group, in a transaction valued at up to €175 million.
The transaction, announced in March, has now been successfully completed following the receipt of merger control clearance from the Comisión Nacional de los Mercados y la Competencia (CNMC).
Founded in 1986 and headquartered in Orihuela (Alicante), Mercaluz is a distributor specialising in electrical appliances and air conditioning equipment, with a strong network of professional customers across Spain. In 2025, the Group (composed by Componentes Eléctricos Mercaluz, S.A., Mercaluz Hogar, S.L.U., EAS Electric Smart Technology, S.L. and Mercaluz Canarias, S.L.) reported revenues of approximately €150 million and adjusted operating profit of €22 million.
This acquisition significantly strengthens Grafton’s presence in the Spanish market, where the group entered in 2024 with the acquisition of Salvador Escoda. With this transaction, Grafton continues to advance its growth strategy in the Iberian Peninsula, further consolidating its position in the HVAC and construction-related distribution sector.
Mercaluz is expected to continue operating independently, maintaining its management team and current business model.
The Squire Patton Boggs Corporate/M&A team was led by partner Rocío García, with the support of associate Elena Ferrer and associate Ángel Manzano.
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