Kelkay has been sold to Griffon Corporation
Kelkay, which sells decorative aggregates, water features and paving in the UK, has been acquired by Griffon Corporation, the US public company that bought La Hacienda last July.
Both are now part of Griffon's subsidiary, The AMES Companies UK Ltd. (“AMES UK”), although they will be run independently for the forseeable future.
Anthony Harker, who was owner and MD of Kelkay and his family will remain with the business, as will the Kelkay Board of Directors, including Richard Pyrah, Jonathan Wilson and non-executive, Bob Hewitt.
Anthony Harker will also become MD of Ames UK to drive its expansion in the UK, which the American parent has identified as a growth market.
He said, “This is a very exciting time for Kelkay and it represents a major step forward for the business, the whole team and our customers. AMES has a major focus on developing their business in the UK. It is flattering that they have chosen to make Kelkay a key partner and investment opportunity to help them achieve their goals.”
Griffon pays $56m
Griffon has paid $56m for Kelkay, which reported sales of £23.6m and an EBIT of £4.7m for the year ending September 2017.