Glenveagh acquires manufacturer of wooden structures

Homebuilder Glenveagh Properties has acquired Wicklow-based timber frame manufacturer Harmony Timber Solutions.

Harmony, which employs 50 people, produces around 450 high-quality wood-framed units a year.

Glenveagh says the acquisition will increase its overall delivery capacity and speed up the supply of new homes.

The group has a target of 3,000 units per year in its various segments.

The acquisition price was not disclosed but is subject to the approval of the Commission for the Defense of Competition and the Consumer.

“We have been investing wisely to take greater control of our supply chain in recent years to help meet changing customer needs and deliver quality, sustainable housing while controlling costs in the process. Harmony ticks all these boxes.” Glenveagh Chief Executive Stephen Garvey said. .

“This acquisition will give us three main facilities in key locations, all within an hour’s drive of Dublin and, more importantly, close to where we are building the communities in which our clients will build their homes,” he added.

“We have developed a state-of-the-art facility with our talented group of people, which will now focus exclusively on manufacturing high-quality, innovative timber-framed housing for Glenveagh customers, helping to alleviate current supply shortages,” Garrett said Dempsey, founder and CEO of Harmony Timber Solutions.

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