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Sat July 02 2022

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Brickability pays £6.5m for roofing contractor

31 Mar Brickability Group, an AIM-listed construction materials distributor, has bought Beacon Roofing Limited for £6.5m.

Beacon is the second roofing contractor that Brickability has bought in the last nine months.

Beacon Roofing, founded in 1993, is a Surrey based contractor that provides roofing services across the southeast of England, predominantly for national house-builders and developers. For the 12 months to 31st January 2022, it turned over £8.9m and made £1.1m in normalised Ebitda (earnings before interest, taxes, depreciation and amortisation).

Brickability will pay Mr & Mrs Shane Whiffen, the former owners of Beacon, an initial cash payment of £4.5m, with a further £2m payable in cash over the next three years depending on performance.

Brickability paid £5.5m for Leadcraft last year.

Brickability chief executive Alan Simpson said:  "Beacon is another great addition to our profitable Roofing Services division, further expanding our coverage in the southeast. This acquisition follows the acquisition of Leadcraft, the Hampshire based roofing contractor in August 2021, which continues to perform strongly."

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