Brickability Group PLC Acquisition of Beacon Roofing Limited (6831G)
31 Marzo 2022 - 12:01AM
UK Regulatory
TIDMBRCK
RNS Number : 6831G
Brickability Group PLC
31 March 2022
Brickability Group PLC
LEI: 213800SK28MWXB3K3P26
31 March 2022
Brickability Group plc
("Brickability" or "the Group")
Acquisition of Beacon Roofing Limited
Brickability Group plc (AIM: BRCK), the leading construction
materials distributor, is pleased to announce the acquisition of
Beacon Roofing Limited ("Beacon") for a consideration of GBP6.5
million.
Beacon, founded in 1993, is a Surrey based roofing contractor
that provides a full range of roofing services across the South
East of England, predominantly for national house builders and
developers.
For the 12 months to 31 January 2022, Beacon reported unaudited
revenue of GBP8.9 million and normalised EBITDA of approximately
GBP1.1 million.
The consideration is being satisfied by an initial cash payment
of GBP4.5 million and deferred consideration of GBP2.0 million
payable in cash over the next three years (the "Performance
Period"), subject to adjustments to deferred consideration payments
for performance against target performance criteria during the
Performance Period.
The acquisition will be funded from the Group's existing
resources and is expected to be immediately earnings accretive post
completion.
Brickability will release a trading update for the twelve months
ending 31 March 2022 in the second half of April 2022.
Alan Simpson, CEO, Brickability Group plc, said:
"Beacon is another great addition to our profitable Roofing
Services division, further expanding our coverage in the South
East. This acquisition follows the acquisition of Leadcraft, the
Hampshire based roofing contractor in August 2021 which continues
to perform strongly."
ENDS
For further information please contact:
Brickability Group plc via Montfort Communications
John Richards, Chairman
Alan Simpson, CEO
Mike Gant, CFO
Cenkos Securities plc (Nominated adviser
and broker)
Ben Jeynes, Max Gould (Corporate Finance)
Julian Morse, Alex Pollen (Sales) +44 (0) 20 7397 8900
Montfort Communications
James Olley
Georgia Colkin +44 (0) 203 514 0897
About Brickability
Brickability is a leading construction materials distributor,
serving customers across the UK and Europe for over 36 years
through its national and local networks. The company supplies over
500M bricks annually and has 41 locations across the country with
over 500 employees.
Across its 3 divisions the Group supplies bricks, roofing,
timber, cladding, heating, flooring, doors and windows to meet
demand from both housebuilders and contractors.
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END
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March 31, 2022 02:01 ET (06:01 GMT)
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