# Grafton Group to acquire Mercaluz in Spain for up to €175 million

Grafton Group plc has agreed to acquire Mercaluz, a Spanish distributor of air conditioning equipment, for a maximum of €175 million, anticipated to be approximately €165 million on a cash and debt-free basis. The acquisition is subject to regulatory approval.

- Type: Acquisition
- Announced: 2026-03-19
- Where: Spain, Spain
- Value: $190.8M (175.0M EUR)
- Status: announced
- Products: air conditioning equipment
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Grafton Group](https://endata.com/companies/90933.md) (acquirer)
- [Mercaluz](https://endata.com/companies/90934.md) (target)

## Sources

- [investegate.co.uk](https://www.investegate.co.uk/announcement/rns/grafton-group-ut-cdi---gftu/agreement-to-acquire-mercaluz-in-spain/9481417), 2026-03-19: "This acquisition, subject to regulatory approval, is expected to be earnings enhancing in its first full financial year and will strengthen Grafton's position in the growing Iberian HVAC market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.