Building materials company Grafton Group has agreed to acquire Cork-based Cygnum Holdings for an undisclosed sum.
The Macroom company, which was founded in 1997, is a supplier of off-site timber-frame solutions to developers and contractors in the Irish market. In 2025, it had unaudited revenue of €45.6 million and adjusted operating profit of €7.9 million.
Grafton said the value of the deal was “in line with market precedents”, and it expected the transaction to add to earnings in its first full financial year following the acquisition.
Following the deal’s completion, Cygnum will operate as part of Chadwicks Group. The acquisition is in line with Chadwicks strategy to expand its offering and modern methods of construction, and operate as a one-stop shop for customers, it said.
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Modular construction is a fast-growing sector of the construction industry in Ireland, with the cost, quality and delivery efficiencies of timber frame expected to continue to fuel that growth.
Chief executive Eric Born said Cygnum was a well-established business with a strong and experienced management team.
“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,” he said.
“For Grafton, it provides an opportunity to increase our exposure to the new-build market.”
The deal is subject to approval by the Competition and Consumer Protection Commission (CCPC).
