LONDON, UK: Brickability Group plc (AIM: BRCK), the main construction supplies distributor, introduced the acquisition of Beacon Roofing Limited for a consideration of £6.5 million.
Beacon Roofing Limited, based in 1993, is a Surrey based roofing contractor that gives a full vary of roofing services throughout the South East of England, predominantly for nationwide home builders and developers.
For the 12 months to 31 January 2022, Beacon reported unaudited income of £8.9 million and normalised EBITDA of roughly £1.1 million.
The consideration is being satisfied by an preliminary money payment of £4.5 million and deferred consideration of £2.0 million payable in money over the subsequent three years (the “Performance Period”), topic to changes to deferred consideration funds for efficiency against goal efficiency standards throughout the Performance Period.
The acquisition will be funded from the Group’s existing resources and is anticipated to be instantly earnings accretive post completion.
Brickability will launch a buying and selling replace for the twelve months ending 31 March 2022 within the second half of April 2022.
Alan Simpson, CEO, Brickability Group plc, said: “Beacon is one other nice addition to our worthwhile Roofing Services division, additional increasing our protection within the South East. This acquisition follows the acquisition of Leadcraft, the Hampshire based roofing contractor in August 2021 which continues to carry out strongly.”
Brickability is a number one construction supplies distributor, serving customers throughout the UK and Europe for over 36 years through its nationwide and native networks. The firm provides over 500M bricks yearly and has forty one locations throughout the nation with over 500 employees.
Across its three divisions the Group provides bricks, roofing, timber, cladding, heating, flooring, doorways and home windows to meet demand from each housebuilders and contractors.
www.brickabilitygroupplc.com