Grafton Group has agreed a deal to buy Cork-based Cygnum Holdings Limited for an disclosed sum.
Based in Macroom in Co Cork and founded in 1997, Cygnum Holdings is a made-to-order supplier of offsite timber frame solutions to developers and contractors in the Irish market.
It supplied and installed about 1,250 timber frame housing units last year and a recent investment programme has increased that capacity to about 2,500.
Grafton said it intends to operate Cygnum as part of Chadwicks Group, its distribution business in the Republic of Ireland.
The company said today's deal aligns with Chadwicks Group's strategy to extend its offering and acquire adjacent competencies and allows Chadwicks to continue to be a one-stop shop for customers as they adopt modern methods of construction.
Grafton noted that modular construction is one of the fastest growing building methods in the new homes market in Ireland. Data from the Department of Housing, Local Government and Heritage indicates that in the second half of 2025, 61% of homes in scheme developments had notified the intention to use timber frame construction.
With just over 36,000 homes completed in Ireland last year and a government target of 60,000 homes to be completed annually by 2030, Grafton said that Cygnum is an exciting addition to Grafton's portfolio in the Island of Ireland segment.
The deal is still subject to approval from the Competition and Consumer Protection Commission.
John Desmond, Managing Director of Cygnum Holdings Ltd, said today's deal was a hugely positive step for the business, customers and employees.
"We have built a strong and loyal customer base by consistently delivering high-quality timber frame solutions. Becoming part of Chadwicks Group gives us the backing, scale, and strategic support to accelerate our growth, while maintaining the service levels and relationships our customers value," he added.
Patrick Atkinson, CEO of Chadwicks Group, said that Cygnum offers tangible solutions for faster, more efficient delivery of new homes to help address Ireland's structural housing shortage.
"Subject to regulatory approval, we look forward to welcoming Cygnum’s staff and experienced management team to Chadwicks Group," he added.
Eric Born, CEO of Grafton Group, said the company was very pleased to have agreed to acquire Cygnum which is a well-established business with a strong and experienced management team.
"This acquisition strongly complements Chadwicks Group's trade portfolio and supports the faster, more efficient delivery of new homes to help address Ireland's structural housing shortage," Mr Born said.
"For Grafton, it provides an opportunity to increase our exposure to the new-build market and to support Cygnum customers with access to a broader range of construction related products and solutions," he added.
