Irish building materials supplier Grafton Group is acquiring offsite timber frame specialist Cygnum for an undisclosed sum, according to Construction Wave.

The transaction, subject to regulatory approval, is expected to boost Grafton's earnings in the first year whilst delivering attractive return on invested capital.

Founded in 1997 and headquartered in County Cork, Cygnum supplies offsite timber frame solutions to developers and contractors in Ireland. The company's unaudited revenue and adjusted operating profit for the financial year 2025 was €45.6 million and €7.9 million, respectively.

The existing management team at Cygnum will remain in place following the transaction. Grafton intends to operate Cygnum as part of Chadwicks Group, its distribution business in the Republic of Ireland.

Modular construction represents one of the fastest-growing building methods in the new homes market in Ireland, according to findings by the Irish Timber Frame Manufacturers' Association and the Department of Housing, Local Government and Heritage. The method delivers cost, quality, and delivery savings compared to traditional construction approaches.

Eric Born, chief executive of Grafton, said: "We are very pleased to have agreed to acquire Cygnum which is a well-established business with a strong and experienced management team.”

He added: “This acquisition strongly complements Chadwicks Group's trade portfolio and supports the faster, more efficient delivery of new homes to help address Ireland's structural housing shortage. For Grafton, it provides an opportunity to increase our exposure to the new-build market and to support Cygnum customers with access to a broader range of construction related products and solutions."

Review comprehensive acquisition details through the complete report.