Travis Perkins has confirmed it has sold its specialist floor kit, I-joist and staircase manufacturer Staircraft to Gait Consulting for £24m.
The move effectively sees Staircraft return to its original founder Andy Hamilton, who is the majority owner of Gait Consulting.
“The sale of Staircraft is another step to simplifying the Group’s operating model with a clear focus on being the UK’s leading distributor of building materials,” said Travis Perkins chief financial officer Duncan Cooper.
Staircraft’s last published set of accounts relating to the full year 2023 show a pre-tax profit of £3.1m, down from £7.3m in 2022. Turnover was £64m, down from £79.9m in 2022.
Travis Perkins first acquired a 15% share in Staircraft in 2015 and then required the remaining shares in 2021. The move expanded Travis Perkins’ customer proposition by adding digital component design, timber engineering and production capability to its portfolio.
Staircraft has three factories in Coventry and one in West Bromwich.
