Edinburgh firm sold in £80m deal

EDINBURGH-BASED Grant Westfield, which designs, manufactures and supplies waterproof bathroom panels, is being acquired by Norcros from owner Iain Macdonald in an £80 million deal.

Grant Westfield was founded in 1881 and manufactures more than 8,000 panels each week sold under the Multipanel brand. Its manufacturing operation is in Edinburgh, and it employs more than 180 people.

Bathroom and kitchen products supplier Norcros, which employs around 2,200 staff, noted Grant Westfield’s “established relationships with merchants, independent retailers and buying groups” and “experienced management with strong track record of delivering consistent growth”.

It flagged “Grant Westfield’s offering of a leading, differentiated and premium product in the attractive and fast growing bathroom wall panel sub-sector” as being part of the strategic rationale for the deal.

Norcros also cited Grant Westfield’s “strong growth prospects”.