Brickabilty snaps up southern roofing contractor
Leadcraft is Brickability’s 12th strategically significant acquisition in the past three years, following the recent purchase of rival timber and brick distributor Taylor Maxwell for £63 million.
Founded in 1997, Leadcraft offers a full range of roofing services including tile, slate, zinc, copper, felt and lead work.
In the last 12 months it has generated £5.6 million in revenue, generating a profit of £1 million.
The deal includes an initial payment of £3.3m with £2.2m in cash payable over the next three years, nearly half of which is performance related.
Alan Simpson, CEO, Brickability Group, said: “Following our recent transaction with Taylor Maxwell, this is another strong acquisition for Brickability as we continue the strategy we set out in the IPO.
“Leadcraft is a great addition to our highly profitable Roofing Services division and expands our product offering in this area by bringing copper and zinc metal roofing and historic plumbing capabilities to the group.
“This acquisition will further strengthen and diversify our offering as we lean on the V-shaped recovery seen in the construction industry.”
Founded in 1984 in South Wales, Brickability has steadily developed a turnover of £180 million into a network of 25 sites supplying more than 300 million bricks a year, as well as blocks, rainscreen cladding systems, architectural masonry, paving, roof tiles and slates .