Brickability Group has completed the acquisition of McCann Roofing Products, a roofing products importer and distributor, for £2.75 million
The Acquisition is the first since shares of Brickability were floated on the London Stock Exchange's Alternative Investment Market in August 2019, and is in line with the acquisition strategy set out at the time.
McCann, which is based in Grays, Essex, imports high-quality materials form some of the largest producers in Europe, across France, Spain and Belgium. In the year ended 31 December 2019, McCann reported profit before tax of £0.7 million on revenues of £8.2 million.
The Acquisition increases and diversifies Brickability’s European material supply as well as product range and will expand the distribution of roofing products into new regions across the UK.
McCann will become a subsidiary of Crest Brick Slate and Tile Limited, an existing Brickability Group company.
Alan Simpson, CEO of Brickability, said: "Bringing McCann into the Brickability Group is very exciting. This is exactly the sort of acquisition we set out to make when we listed: the right price with strong management, great performance and a strong business model that fits the Brickability mould.
"We look forward to welcoming the McCann team and working with them to keep growing the Group, diversifying our product range and increasing our distribution footprint.
"We have to keep delivering for our shareholders, so expect our focus on acquisition and expansion to continue."