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Grafton’s takeover of Heiton wins ‘Deal of the Year’ Back  
The long-awaited takeover of builders supply company the Heiton Group, by competitor the Grafton Group, has been voted this year’s FINANCE Deal of the Year 2005.
One of the landmark deals of 2005, the €353 million acquisition of the Heiton Group by the Grafton Group, has been voted the FINANCE ‘Deal of the Year 2005’ by the finance directors of Ireland’s top corporates.
It was followed by the €84 million purchase of the Barlo Group by the Sean Quinn led Sarcon in second place, and the €1.1 billion acquisition of The Savoy Group by Quinlan Private in third.

The Heiton deal continues the trend of take-privates which has marked the Deal of the Year survey over the past number of years, and which saw Madison Dearborn’s acquisition of Jefferson Smurfit take the award in 2003, and the take-private of First Active by Royal Bank of Scotland in 2004.

The deal, about which one finance director remarked, ‘ was a necessary and exciting response to increased competition in the marketplace giving greater market presence and muscle’, started back in 1999 when Grafton acquired its initial stake of 8 per cent, finally getting ownership of the Heiton Group in January 2005.

AIB Corporate Finance and Arthur Cox advised the Grafton Group, while IBI Corporate Finance and A&L Goodbody advised the Heiton Group on the transaction. Click here.

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