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Sun September 26 2021

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Brickability buys Leadcraft

2 Aug Construction materials distributor Brickability Group has acquired Hampshire-based roofing contractor Leadcraft in a £5.5m deal.

Leadcraft, which was founded in 1997, provides a range of roofing services including tiling, slate, zinc, copper, felt and lead works. In the 12 months ended 30th June, Leadcraft reported unaudited revenue of £5.6m and normalised earnings before interest, taxes, depreciation, and amortisation (EBITDA) of approximately £1m.

Leadcraft is Brickability’s 12th acquisition in the last three years and underlines an acquisition strategy set out when it was listed.
Brickability Group CEO Alan Simpson said: "Following our recent transaction with Taylor Maxwell this is another strong acquisition for Brickability as we continue the strategy we set out at IPO. Leadcraft is a great addition to our very profitable Roofing Services division, expanding our product offering in this area by bringing copper and zinc metal roofing and heritage leadwork capability into the group.

“This acquisition will further strengthen and diversify our offering as we lean into the V-shaped recovery being seen across the construction sector.”

Brickability is making an initial payment of £3.3m followed by deferred consideration of £2.2m payable in cash over the next three years, of which £0.9m is subject to performance criteria.

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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