Grafton Group, which owns the Woodie's business here, has announced a deal to buy AVC (StairBox) Ltd, a UK manufacturer and distributor of bespoke wooden staircases trading as "StairBox" for £44m.
Founded in 1994, StairBox has developed a software application that enables customers to easily and accurately design, visualise and price staircases on the StairBox website.
This is the initial step in an efficient manufacturing process undertaken at its state-of-the-art production facility in Stoke-on-Trent.
StairBox reported revenue of £19.5m and adjusted operating profit of £6.1m for the year ended March 2020.
Gavin Slark, Grafton's chief executive, said that StairBox is a dynamic manufacturing business with a best in class on-line solution at its core.
Mr Slark said the company has an efficient production process, nationwide distribution and strong growth potential.
"The acquisition of StairBox is in line with our strategy of acquiring specialist high quality businesses with attractive returns.
"We are delighted with this acquisition opportunity and the skills and experience that the management team under the leadership of Alex Hancock will bring to the Group," the Grafton CEO added.
Under the terms of the deal, £44m is being paid on a cash and debt free basis including £4m that is deferred until November 2022.
