Under SIG ownership, Penlaw will continue to trade under its existing brand supported by the full backing of SIG Distribution’s supply network and product range.
Established in 1977, Penlaw employs 130 staff and operates from five sites in the UK. In the year to 31st October 2020 Penlaw made a pre-tax profit of £1.6m (2019: £1.7m) on turnover of £33.9m (2019: £40.6m).
SIG has bought the company from founder and chief executive Richard Gray, who turned 73 last month.
SIG UK managing director Philip Johns said: “As a business, we have been closely following Penlaw & Company Ltd impressive growth across the past decade and recognise them as a respected construction materials supply specialist. That’s why we are so delighted to welcome them to the SIG family. With a reputation for customer service excellence, we are sure that Penlaw & Company Ltd team will help us further enhance our offering to customers nationwide.”
“Indeed, the acquisition serves as further testament to our commitment to supporting the industry. This year has certainly had more than its fair share of uncertainty, but via our new partnership with Penlaw & Company Ltd, we are seeking to provide renewed confidence to the wider industry as we head towards 2022.”
Penlaw managing director Paul Glackin said: “After 44 years as an independent distributor, we are delighted to become part of SIG, especially at this exciting stage in its return to growth strategy. Myself and my senior team are fully confident that this will be a very positive step for all our stakeholders, offering increased opportunities to our staff, an improved service package to our customers and enhanced relationships with our suppliers.”