Brickability acquires Modular Clay Products
Construction supply firm, Brickability Grouphave announced their acquisition of Modular Clay Products Limited.
The deal was closed at £4.75 million, constituting an initial cash payment of c.£3.33 million and deferred, performance related consideration of c.£1.43 million payable over the next three years.
Brickability have over 30 years experience delivering masonry products, the company have hubs in Surrey and Berkshire.
Welcoming the acquisition, Alan Simpson, CEO, Brickability Group plc, said: "The Group currently addresses the specification sector through our Taylor Maxwell and Bespoke Brick businesses.
"The acquisition of Modular Clay Products will significantly increase our presence in the specification sector and bring access to a range of European manufacturers further boosting our import capabilities."
MCP supplies bricks to the specification sector and provides design advice and consultation to construction firms and projects. They reported unaudited revenue of £10.50 million for the 12 months to 31 December 2021.
The acquisition will be funded from the Group's existing resources and is expected to be immediately earnings accretive post completion.
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