Grafton Group has acquired Componentes Eléctricos Mercaluz

April 2026 — Grafton Group plc has acquired Componentes Eléctricos Mercaluz S.A., strengthening its position in the heating, ventilation and air conditioning (HVAC) sector in Iberia. The transaction represents a further step in Grafton’s consolidation and expansion strategy in the region, following the acquisition of Salvador Escoda in October 2024. Grafton intends to support Mercaluz in its brand development and ongoing organic expansion in the fragmented Iberian marketplace.

Grafton is an international listed distributor of building materials.

Mercaluz is a family-owned distributor specializing in domestic and commercial air conditioning equipment for professional small and medium-sized installers, as well as household appliances for wholesalers, resellers and developers, primarily through its fast-growing proprietary brand, Johnson, for which the company owns the European rights. Founded in 1986 and headquartered in Orihuela, Alicante, Mercaluz operates a direct-to-site delivery model supported by regional delivery hubs rather than a branch network to efficiently serve its customer base.

Our role in the transaction

Oaklins’ team in Spain acted as the buy-side advisor to Grafton in the acquisition of Mercaluz.